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How do I know if I qualify for a commercial mortgage?

POSTED: 10th February 2015
IN: Commercial Mortgages FAQs
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Lenders use a fairly common approach to work out whether a customer qualifies for a commercial mortgage, which as a general rule would be based on:

- Your experience and credit history
- How much you wish to borrow
- What you want the money for
- Your ability to repay the mortgage
- What security you can offer for the mortgage

Typically, your application is likely to be accepted if:

- You have a clean credit history and bring experience to the table
- The amount you wish to borrow is within the range the lender is happy with
- The reason for borrowing acceptable to the lender
- You can demonstrate an ability to repay the mortgage, even if interest rates go up in future, and;
- You can offer acceptable security

However every organisation can have different policies therefore is better to ask your lender whe its requirements are. The above information should not be used as checklists. If you would like to find out more about Aldermore's Commercial Mortgages call 0333 321 4000 or email BusinessLendingDirect@aldermore.co.uk

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