How Simple Is It To Get A Commercial Mortgage?

As a general rule, if you have a good relationship with your bank where you maintain a satisfactory business account, have three years audited accounts showing that you are trading profitably, have a good credit rating, there is a good security margin and the lending proposition meets all the criteria of your bank then you are hopefully going to have your commercial mortgage application approved. So, yes, in the above scenario, it is quite likely that it should prove relatively straightforward to get the finance.

Many commercial mortgage brokers are able to source commercial finance for businesses that are declined by their own banks
Should your bank feel unable to provide a commercial mortgage a broker may be able to find a lender that will.

Unfortunately, sometimes a business is not able to meet all the above criteria. For instance, you may have only been trading for a year or two so are unable to provide three years audited accounts. However, the fact that you have traded profitably for a couple of years is a positive factor.

One of your debtors may have gone into liquidation owing you several thousand pounds causing you temporary cash flow problems resulting in your bank having to return one or two items unpaid. Because of this, your bank may take a dim view with regard to your application for commercial finance. Just because they have done so does not mean to say that every provider of such finance would respond in the same way and decline your application.

It is in these sorts of situations, as well as with standard cases, that a commercial mortgage broker should be able to offer you valuable assistance. An experienced broker like ourselves has an extensive panel of lenders and we know the criteria that each of them lay down. There are some lenders that will consider requests that don’t tick all the usual boxes for such lending and we know who they are. By using ourselves, you are hopefully going to save yourself a lot of time trying to source a suitable lender.

We look forward to doing our utmost to help you.

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