CFI Comment


It’s all about who you know


While the commercial sector may offer many opportunities for you to gain some extra revenue, make sure you work with a specialist partner who has experience in the sector


by Terry Pitchard, director, Alt FS


It’s nice sometimes to sit back and think about what it would be like to have credit back in the market. Yet that, along with food that doesn’t make me fat and green cars (not the colour) that you actually want to drive, maybe a long way off. In fact, there’s probably more chance right now of my being cast to play Peter Griffin in a film version of Family Guy. So how do you look to replace much of that lost income caused by the lack of credit without dramatically increasing your workload?


As far as I can see, staying with


residential funding seems to be five times more work for a fifth of the income and is making less economic sense than it ever has before especially given the increasing compliance issues surrounding the market. There have been a number of suggestions that can go some way to solving the problem, such as equity release, annuities, specialist insurances etc which are all good as long as the demographics of your client bank lends itself to these new potential sources of income.


OppOrtunIty


One additional way in which we can achieve this is perhaps to look at commercial funding.


Now I am once again not suggesting for a minute that you should drop everything and head off looking for every commercial deal under every stone around as this can be a real minefield. It


48 mortgage Introducer FEBRUARY 2011


can also mean even more work for less reward if not handled in the right way. However, what I am saying is that over the last six months I have noticed how many brokers still do very little to coax these cases out and that when they have seen them, look down a very narrow route of the High Street commercial banks only. These, as we


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