Top Ten Tips to Commercial Credit Committee Approval: Tip 2

Top Ten Tips to Commercial Credit Committee Approval: Tip 2


Getting your client’s commercial mortgage application approved by a credit committee can prove challenging as lenders processes and criteria are often vastly different and gathering the information requested can seem overwhelming.

Talking us through the best way to get your commercial application approved, Rob Lankey Managing Director at Aldermore Commercial Mortgages gives us his top ten tips…


Tip 2: Tell a story

If you’re submitting an application for a larger value loan, be prepared to provide the lender with a write-up about the case. Provide an overview of the application and describe what’s happening - it’s useful background information for the lender. Who are the borrowers, what does the business do, how long has it been trading, what issues is it facing? Most good commercial brokers will already have a good feel for the risks and can therefore help by being upfront and pointing these out. 

Be honest. Lenders understand that in the midst of a recession a business’s books may not look quite as rosy as they once did. If there are any anomalies that need explaining, do so and tell the story.

You don’t need to write War and Peace; a half page at most is all that’s needed.

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