Commercial Mortgage Leads
A commercial mortgage is a mortgage loan issued for the purpose of buying commercial property, and is typically borrowed by companies or organisations to secure a business premises. A commercial mortgage is the same as a residential mortgage except a commercial building is used as collateral instead of a residential property.
A typical commercial mortgage is taken on by a business and the assessment of whether or not the company is approved can be complicated.
Securing a commercial mortgage is based on the ability of the business to repay the loan. Lenders will assess if the business is able to repay the debt by looking into the company's history and make a decision based on past performance, current market share and the possibility of future earnings.
In some cases, if a company defaults on the repayment of the commercial mortgage the creditor can only seize the collateral and has no further claim against the borrower. Other commercial mortgage deals require an obligation or guarantee from the borrower or Directors of the company which makes the debt payable in full by the individuals even if foreclosure on the collateral does not satisfy the outstanding balance.
FinanceLeadsOnline.co.uk receives high levels of commercial mortgage leads generated by parent company BeatThatQuote.com which are then available for brokers to purchase.
Brokers have two options to purchase commercial mortgage leads – a fixed price or a bidding system. The fixed price system enables brokers to pre-determine the volume of commercial mortgage leads they require and the price they are willing to pay for those leads.
Alternatively, brokers can use a bidding system to specify the maximum they are willing to pay for a commercial mortgage lead according to the postcode area, providing the potential to pay less subject to other bids for the same leads.
FinanceLeadsOnline.co.uk frequently releases data via its news pages informing brokers of which regions are generating high volumes of commercial mortgage leads.
Leads for commercial mortgages are delivered in real-time and brokers receive lead exclusivity.
We're really pleased with the lead quality that we get from FinanceLeadsOnline.co.uk. Our conversion rate is good and the customers are expecting a call from us when we ring them. We like the flexible service that we get, mainly due to the fact that we can have as many leads per day as we like. Compared with other lead companies, we think the service we get is brilliant.
Mat Rees
Citri Brokers Limited
