Top Ten Tips to Commercial Credit Committee Approval: Tip 5

Top Ten Tips to Commercial Credit Committee Approval: Tip 5


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 Mortgagesgives us his top ten tips…


Tip 5: Understand the property

The property to be mortgaged is the lenders ultimate safety net and they will therefore want to understand every aspect of its use. That doesn’t mean simply having a valuer's report, it also means ensuring the property is in a good state of repair and is well located. 

If you can and you’re in the area, jump in the car and go and see the property for yourself and take your camera with you. Take a look at its location on Google and do some internet research to find out about its locality and use. 

Most importantly, use your common sense. If the property is boarded-up, in a poor state of repair and the market has passed the property by, why should a lender take it as a serious proposition? 


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