Important documents for a commercial mortgage application
If you want to apply for a commercial mortgage, you’ll need documents to help us process your application. Find out what you’ll need here.
Standard documents
For all new applications we need the following documents:
YBS Commercial Mortgages Application Form.
YBS Direct Debit Mandate.
Latest 3 years’ Financial Accounts for the borrowing entity, any entity that the UBO draws an income from and those entities within the discrete corporate structure.
Property portfolio for the borrowing entity and the UBO(s).
Brief overview of the entity’s/UBO’s source of wealth.
Most recent 3 months’ bank statements for the borrowing entity (not required if borrowing entity has existing YBS debt).
Asset/Liability and Income/Expenditure statement for the UBOs.
Most recent mortgage statement for any properties being refinanced . Evidence of deposit (purchases only).
Additional documents
We’ll need the following additional documentation for applications that meet the criteria below:
Latest 3 years’ Financial Accounts for any linked entities with ongoing property developments. Please also include an overview of the ongoing developments.
Latest 3 years’ Financial Accounts for any linked entities with an intercompany position (creditor/debtor or OpCo/PropCo) with the borrowing entity.
For Development Exit Loans:
Initial valuation providing detail of the expected Gross Development Value.
Initial Monitoring Surveyor’s Report detailing the expected cost and time required to complete the development, along with the most recent (ideally the final) Monitoring Surveyor’s Report detailing how the development has progressed from a time and cost perspective.
Post-submission Documents
We’ll need the following documents after submission, for any applications that meet the criteria below:
Latest 3 months’ personal bank statements for any UBO where the credit search is not clear.
Latest 3 years’ SA302 documents for all UBOs where an entity is classified as being high risk.
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