A mortgage expert has said that offering a good product is only part of the lender's role, stressing that the ability to move quickly once a client has registered interest is of equal importance.
This comes in the wake of a new product from The Nottingham, sold through the Society's panel of intermediaries, which boasts a loan to value (LTV) of up to 75 per cent.
The lender feels that his kind of product will be of particular interest to small and medium-sized businesses who may be seeking to borrow between £50,000 and £1 million.
Commenting on how a product such as this needs to be matched with swift service, Gary Burrows, The Nottingham's commercial lending manager, said: "In my experience, offering a good product is only half of the battle. Just as important in the scheme of things is our ability to be able to move quickly once an intermediary partner, and their client, registers an interest with us."
He added that their typical turnaround for a commercial deal is within 21 days their use of brokers who can contact an underwriter to approve an application in 24 hours.
Nottingham Building Society is a top 20 mutual building society with assets of over £1.8 billion.
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