The decision follows the recent acquisition of Ruffler Bank by Base’s backers, AnaCap Financial Partners, which gives Base access to retail funding. Base and Ruffler Bank are in the process of merging their operations to create a single capitalised business.
Base chief executive Mark Stephens says: “We are delighted to be back in the commercial mortgage market once again, but are very mindful that we need to maintain a tight control over both business quality and volumes. We have therefore decided to control our distribution via a limited panel of professional commercial finance brokers located throughout the UK.
“We have notified these brokers and will be working very closely with them over the coming weeks to ensure they fully understand our underwriting and processing requirements
“I do appreciate this means that some brokers who have dealt with us in the past will not be able to submit business directly to us in the future. I do hope those brokers understand the reason why we have decided to relaunch via a restricted panel.”