Brokers to weather tough market with commercial mortgages

CLC says the commercial mortgage market is growing, with new products and lenders entering the market. Figures from CLC indicate 75% of brokers currently sell residential mortgages, compared to just 15% selling commercial mortgages. Michael George, managing director of CLC, says commercial loans are often seen as being too complicated and labour intensive to secure, which has turned many brokers away from the products. However, he predicts this will change drastically in 2008. “With profit margins in the residential sector now impossibly low, however, brokers are more open to the op...