Finding the Best Commercial Mortgage in Selwyn

Trying to source the best commercial mortgage for your company or business can be a frustrating and time consuming process. Many people approach commercial lenders thinking that the applications procedure is going to be the same as applying for a personal mortgage. If you are looking for the commercial mortgage expert in Selwyn then you can browse the web.

What makes applying for a commercial mortgage so different?

A commercial mortgage is different from a personal loan in several ways. This is the most important difference, and often overlooked. Commercial lenders have a different acceptance criteria to personal lenders. Without a complete understanding of these criteria it is very unlikely that a commercial mortgage application would be approved.

The lender will require supporting documentation to be attached to the application. This is a second, and more difficult, difference. For a personal or residential mortgage, you will need to provide all details about the property and proof of income. 

For a commercial mortgage, you will need to provide additional documentation such as a complete business plan that demonstrates your company's ability and willingness to pay the monthly repayments. You will likely be required to submit disclosure documents detailing information about each shareholder and company official. It is evident that it is not easy to find the best commercial mortgage.