Top Ten Tips to Commercial Credit Committee Approval: Tip 6

Top Ten Tips to Commercial Credit Committee Approval: Tip 6




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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 6: Who are the tenants?

On commercial investment properties, find out who’s occupying the property today, as opposed to who may be named on the lease that was signed ten years ago. The property may have been sub-let and the lender will want to know who is in situ today, as well as who is on the hook as far as the original lease is concerned. Always get a tenancy schedule and have a look at it before sending it in – do a ‘sense check’.

 

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