What are the Benefits of Using a Commercial Mortgage Packager?

Published

May 31, 2024

Many brokers are unaware that commercial mortgage packagers can provide a wider pool of expertise and greater access to lenders and products.

Brokers are experts at finding solutions for their clients but can find it difficult to help with complex borrowing cases and provide the expertise to cover the full spectrum of finance options. However, brokers don’t have to limit their options and client base when they choose to work with a commercial mortgage packager because they have the experience required to help customers in all areas of finance, even if their needs are complex.

In simple terms, a commercial mortgage packager puts together the mortgage application and sends it to the lender. The tasks they carry out include checking the credit files of clients and making sure their applications meet the lending criteria to reduce the possibility of rejection. A commercial mortgage packager knows how best to present a case and can help brokers match clients with the most suitable lender.

A commercial mortgage packager has a solid understanding of the marketplace and can help brokers with more types of cases than they would otherwise be able to handle. They can also convert more business than a broker going direct to a lender and offer customers a wide array of options, regardless of how complex their borrowing requirements may be.

In addition to helping brokers take advantage of opportunities that don’t form part of their core business, a commercial mortgage packager can access a range of specialist products and sometimes negotiate exclusive deals with lenders.

There are many reasons why brokers should consider using a commercial mortgage packager, such as:

1. A wealth of knowledge and expertise

Brokers often specialise in certain products and choose lenders they have direct access to, which limits options for their customers. Commercial mortgage packagers have a wealth of knowledge and expertise, so they can deal with specialist lenders and identify the best products for customers to ensure brokers don’t miss out on a greater variety of business opportunities.

2. Save brokers a huge amount of time and hassle

When a broker uses a commercial mortgage packager, the broker has the freedom to source new business and complete more deals whilst keeping ownership of the client. As the commercial mortgage packager will have an in-depth knowledge of the lender’s criteria, they can also help with new cases, assess enquiries and promptly find the best solutions.

A commercial mortgage packager can support the application process and reduce the stress of time pressure in several ways. For example, a commercial mortgage packager can collate the documentation that lenders require and even deal with any issues or legal blocks that arise to minimise delays. They also work closely with top lenders who deliver a high level of service, which results in faster processing times, leaving brokers to concentrate on their business.

3. Strong relationships with lenders

Commercial mortgage packagers enjoy solid and long-lasting relationships with lenders and add value by giving brokers access to products and lenders they may not be familiar with. Some lenders restrict product access and favour business from packagers who deal with different types of cases day in and day out, meaning packagers can also give brokers access to products that are not widely available.

Furthermore, commercial mortgage packagers who maintain strong relationships with top lenders give brokers confidence that deals will be delivered quickly and efficiently.

4. Improve reputations and find better outcomes for clients

A good commercial mortgage packager wants brokers to have successful relationships with their clients and offer products that suit each customer’s financial circumstances. Both the packager and the broker work hard to obtain the best possible deal for the client. However, the packager enhances the broker’s reputation by sourcing the most appropriate solution for the client and improving the quality of their application.

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