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 9: Use a liberal dose of common sense

When you first take a look at a deal, use copious amounts of common sense and ask yourself, does the deal feel right? For example, if it’s a mortgage application for a shop and the applicant has given you a copy of an old valuation with photographs showing poor trading conditions and low stock levels, does the applicant’s claim stack-up that the business is now thriving? Challenge why - is it in the wrong location or has it simply been badly managed? 

Don’t overlook the obvious. I remember receiving a proposition where a large second hand car dealership was moving to new premises, but the premises had nowhere to park any cars! It may sound silly, but it happens. If your instincts tell you that something doesn’t feel right, then alarm bells will also ring with a lender. It may be that a bit of investigation provides a perfectly reasonable explanation for your concerns. Be prepared to do some investigating.