Fiducia Commercial Solutions - What demand is there for a broker?
Just because a client has a long standing relationship with the bank it does not mean that they will have the best lending rate. Commercial lending is not regulated so lenders are not legally obliged to give the best rate or solution. As a broker you aim is always to find the best solution for the client.
We are seeing more and more web based brokers for personal insurance/lending. For example www.moneysupermarket.com and www.confused.com. If people are prepared to go to these to save themselves £50 per year they will come to a commercial lending broker when they could potentially save thousands over the term of the loan. Paying a 1.25% broker fee will seem insignificant when you can show them what they can save.
Some clients need flexibility in their lending requirements and the lender that they are with does not offer that. Again you will have access to a broad spectrum of lenders and will therefore be able to source more suitable arrangements which will help ease cash flow for the client.