Commercial Mortgage Market
“The Commercial Mortgage Market in Newmarket And The Rest of The Greater Toronto Area Stays In Flux”
Newmarket commercial mortgage financing like everywhere else in the GTA, continues to be a work in progress with respect to understanding the dynamics of the market at any given point in time.
Since the beginning of the recession two years ago (or so), the commercial mortgage market continues to be a changing landscape with institutional lenders going and coming into the market and private lenders mostly coming in versus heading for higher ground.
The proverbial waves from recessionary impacts are still hitting the financial beaches as lenders continue to closely monitor their portfolios to see what further loss accounts they may still expect to see from borrowers that will still not make it through to the other side of the economic downturn.
The end result continues to find institutional lenders being more selective in the deals they take on, taking more time to evaluate and fund each deal as well, and private lenders entering the fray in record numbers as the quality of the private mortgage deals available increase.
For the Newmarket commercial mortgage options, nothing has really changed in terms of what’s available to a given business or borrower. The big challenge right now is trying to determine which lender is going to 1) be able to fund your requirements today; and 2) is the best fit for your business requirements.
One thing is clear however is that you need to start the process of finding the right commercial property loan sooner and if time is at all a factor, then private mortgage funding options may need to be considered over institutional in order to meet your deadlines, whether they be self imposed or forced upon you. Bank or institutional deals are taking longer to complete on average than the pre recessionary period and both the timing of completion and outcome can be very difficult to predict.
One of the best ways to get a Newmarket commercial mortgage in place is to work with an experienced commercial mortgage broker who can help you get working with the most relevant lenders right away, saving both time and money in the process.
If you need a Newmarket commercial mortgage, I recommend that you give me a call so we can go over your requirements together and discuss different commercial mortgage options available in the market place today.
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About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel