Dean St - Commercial Finance

Dean St Ltd works in close partnership with commercial brokers who have over 20 years experience in the commercial mortgage market. During this time we have built up strong working relationships with all the major lending institutions, banks and Finance Houses. Based on our knowledge and experience, each application is assessed and placed with the most beneficial lender to suit our client's requirements.

Specialise in all types of business mortgages/re-mortgages ranging from Post Offices, Convenience Stores and Off Licences to Guest Houses, Public Houses and Catering outlets.
Fund investment purchases/re-mortgages and arrange development funding.
Provide a high level of service, treating all clients as priority and ensuring that applications are processed quickly and efficiently.
Build relationships with our clients, allocating one member of our staff to handle each application from enquiry to completion.

Commercial mortgage brokers are a good source of information, they know which specific lender can meet the client's individual needs, they understand how the lender works and can save valuable time for the client by processing the application swiftly.

All reputable commercial lenders charge an arrangement fee and expect clients to cover the cost of their legal fees and valuation. In using a broker, you would also expect to pay around 1% of the loan advance although on small loan advances a minimum fee may apply. Be wary of paying any up front fees; make sure you see what you are getting for your money first!

Most lending institutions will either issue an offer "in-principle" or arrange a meeting prior to requesting payment for the valuation fee. You can then investigate the lender and confirm their lending terms before committing yourself. The broker's fee can either be paid on formal offer of finance or completion, depending on how the broker operates. The lender's arrangement fee and legal costs are normally paid on draw down of the loan.

The administration fee is paid once the broker has assessed your application and confirms that lenders are willing to assist. You can then request details of the lender and terms in writing from them to verify this. Usually the broker will schedule a meeting for you with the lenders at this stage or arrange a valuation in accordance with the lender's requirements.

From the time of initial enquiry to completion of the loan, normally takes around 3 months. Obviously, some applications can happen sooner and some later depending upon the various parties involved i.e. solicitors, lenders, broker. With regards to bridging funding, this can normally be completed within a 2 week process.