Skipton Building Society subsidiary Pink Home Loans is moving into the commercial lending market.
Pink Commercial will be run in association with specialist intermediary lender Commercial First.
The service will offer loans to borrowers who find it difficult to get funding from banks and institutional lenders, such as small businesses, the self-employed and partnerships. There will be a self-cert option for some customers.
Commercial First says only 15 per cent of commercial loans are transac-ted by brokers and it believes this sector has huge potential for growth over the next few years.
Mortgage distributor and packager Pink Home Loans already has two lender panels for its members offering direct access or packaging facilities as well as a range of financial products. It hopes the addition of a commercial lending arm will make it a one-stop-shop' for customers.
Commercial First Mortgages sales and marketing director Stephen Johnson says: “This is another example of the growing dem-and that exists in the market. Commercial mortgages are becoming increasingly important for mortgage intermediaries. They add diversity and an important additional earning potential.”