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When looking for a commercial mortgage in the UK you will need to consider a number of factors to see if the mortgage is right for your business, similarly the mortgage lender will need to check certain aspects of your business before approving you for a loan. Knowing what the lenders will be looking at can help you to present your business in the best way to ensure that you get the mortgage your need.

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Before agreeing to loan any business money, the commercial mortgage lender will need be as sure as they can be that the money will be repaid to them. There are a number of checks that they will carry out in order to determine the level of risk that any particular borrower represents to them.

The main factors that the lender will take into account will be the financial state of the business, both past performance and future projections, and the property on which the mortgage is being secured against. A valuation of the property will be necessary, and the lender will appoint a surveyor to value the property for them, it is important that the property is of sufficient value to cover the mortgage.

When seeking a commercial mortgage you will need to be able to put up 20-30% of the purchase price, and you also have the following available for the lender to aide them in their assessment of your business’ ability to meet the repayments:

Audited accounts for the past two years

A profit and loss (P&L) forecast for the following year

An indication of current business performance (such as sales records, current outstanding orders, customer numbers).

Profiles of each partner in the business, along with asset and liability statements for each.

Taking out a commercial mortgage is a significant step for any business, and one which needs to be carried out in the same manner as other large actions, make sure that you are fully aware of all of the implications for your business and make the necessary preparations to ensure that the deal is secured. By having the information stated above ready for the commercial mortgage UK lender you will ease the process and this should speed things up for you.

A commercial mortgage can give your business the security you seek, and assure your future giving you a more stable base from which to act, allowing you to forecast more accurately and gain a competitive edge in the market.

Armed with the information provided here you should have a clear idea of what lenders expect from your business when applying for a commercial mortgage, the next step is to contact several lenders to find the best deal you can – see our list of the top commercial mortgage lenders.

Mortgage UK is an excellent resource for those looking for all forms of mortgages, including commercial mortgages.

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