Commercial Mortgages Applications
What Information Will You Need?
When applying for a commercial mortgage, you will need a number of items to ensure the Bank can convey its decision in a timely manner. The following list is not exhaustive, but it will help you as a general guideline:
- 6 months personal and/or existing bank account statements to show you satisfactoraly maintain your bank balance.
- Evidence of your ability to repay the borrowing via any of the following:
- Profit and Loss Accounts covering last 3 years.
- Profit Projections.
- Cashflow Projections.
- Tenancy Agreements.
- Payslips.
- VAT Returns.
- Business plan, especially for all start-up ventures, incorporating, management structure, staffing requirements, competition, opportunities, customers, suppliers, financial projections to confirm serviceability.
- Confirmation of asset value via BBG or specialist valuer.
- Breakdown of Project costings.
- Confirmation of Planning Permission / change of use.
- Build Plans.
- Sale Particulars.
Sector-Specific Guides
*This guide is for information purposes only. You should seek professional advice on your commercial mortgage requirement from a commercial mortgage broker that holds a consumer credit licence.v
