Commercial
mortgage checklist
Well presented and
researched proposals lead to faster decisions. Set out below is the
information normally required to process an application.
Applicant
details
Applicants name
Contact person
Phone number
Email address
Fax number
Whether mortgage
is in company name or promoters name
Business name
Ltd company name
Ltd company
registration number
Property
to be mortgaged
Location address
Description
Age size
Area grounds
Existing use
Proposed use
Planning
Additional spend if
any
Potential for further
development/ income
Sales of similar
premises in area
Alternatives to
proposed venture
Purchase price
Additional costs
stamp duty fees out etc
Deposit required
Source of deposit
with support
Mortgage amount
Mortage type annuity
or pension
Mortgage term
Business
details
How long trading
Describe business and
main products and markets
Describe prospects
Competition details
Staff numbers
Roles of promoter in
business
Financial Accounts (
as up to date as possible)
6 months Bank
Statements
Management accounts
monthly /quarterly
Budget details
Repayment capacity
repayments as a percentage of cash flow
Tax position
Monthly cash flow
Company brochures
Bank name and address
Accountants name and
address and contact person
Taxation advisors if
different from above
Solicitor name and
address
Promoters
Name
Address
Age
Marital status
Children
Employment history
Current Employment
Current income from
all sources
Statement of affairs
for each ie Assets less
liabilities supported as appropriate in detail
Bank name and address
Credit history
ie any problems in past ten years
describe if necessary
Additional
supporting information
