Top Ten Tips to Commercial Credit Committee Approval: Tip 4

Top Ten Tips to Commercial Credit Committee Approval: Tip 4



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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 4: Reveal your client’s other relationships

If the mortgage application is for an investment property, find out what’s happening with your client’s other banking relationships. Do they have outstanding loans with other lenders; if so, with which lenders, for how much and on what properties are the loans secured?

If your client is being forced to refinance by a bank that’s calling-in a facility, tell the lender. Lenders are well aware that some perfectly creditworthy companies are having a gun put to their heads by banks who are no longer interested in lending and it will not count against them if they’re being forced to refinance.

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