Record first quarter for commercial mortgage broker

25 May 2011

Written by Simon Whittaker

Commercial mortgage broker Crystal Mortgages has reported a record start to the year.

During the first quarter of 2011, the Walsall-based firm issued more than £69 million in terms to businesses.

Completions rose 86 per cent, new business levels increased by 56 per cent and commission paid to introducers grew by 60 per cent in the period between January and March.

The business, with a large focus on the pubs sector, recently doubled the number of properties it lends to due to greater availability of high standard public houses.

Senior underwriter at the company Roger Dewsbery explained that, with high street banks failing to lend, commercial enterprises are willing to use "alternative, viable, competitive funding streams".

Gross mortgage lending figures declined by 14 per cent in April compared with the previous month, according to the Council of Mortgage Lenders.

Mr Dewsbery asserted that over 93 per cent of cases the company takes on are finished as they were quoted and turnaround times can be as low as three weeks.

"I do not believe these figures can be bettered," he concluded.

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