Credit committee real estate Morocco — passing your dossier
Real estate financing dossier analysis follows a structured procedure at Morocco's major banks (Attijariwafa, BMCE, BCP, CIH, CFG, SG, BP). Understanding the chain of decision and anticipating key ratios multiplies acceptance chances.
A dossier passes if all three ratios meet thresholds — or if one strong ratio compensates a weak one within tight limits.
Dossier composition
3-year certified financials (corporate) or 3-month payslips + 6-month bank statements (individual); 5-7 year business plan; independent RICS Red Book Global Standards 2025 appraisal of asset; proposed guarantees (first-rank mortgage, parent guarantee, blocked account); detailed funding plan; equity origin justifications (AML); legal documents of asset (TF, plans, permits).
Five scrutinised ratios
LTV (residential 70-80%, rental 60-70%, commercial 50-65%, industrial 50-60%); LTC for development (standard 60-70%, first project 50%); DSCR > 1.3x rental, > 1.4x hotel, > 1.25x logistics; Debt capacity overall < 40% of net revenue (individuals); Project coherence — qualitative: does the project make sense? Is the holder credible? Is the asset liquid?
Five typical rejection errors
Equity under-stated or murky origin; fragile or self-made valuation; optimistic business plan without sensitivities; insufficient guarantees or illiquid asset (non-registered Moulkia, unclear zoning); problematic banking history.
Pivotal role of independent appraisal
A RICS Red Book independent appraisal brings: documented market value for LTV calculation; market analysis demonstrating asset liquidity; DCF modelling projecting rental revenues — DSCR base; sensitivity to key parameters — reassures on dossier robustness; RICS engagement of signatory — professional responsibility that weighs in committee. From MAD 3,500 excl. VAT, delivered 7-14 days, enforceable at major Moroccan banks.
- Independent RICS appraisal commissioned
- Equity origin documented (AML)
- Business plan with sensitivities
- LTV, LTC, DSCR computed
- Asset legal status clean (TF preferred)
- Guarantee structure designed
- Credit history checked
- Funding plan reconciled
- Equity origin unclear
- No independent appraisal
- Business plan over-optimistic
- Asset legal status problematic
FAQ
Why does the bank require independent appraisal even with recent purchase?
Purchase price reflects negotiation, not necessarily market value. Independent appraisal validates value via comparable methodology. Bank uses appraisal — not purchase price — to compute LTV.
Can I appeal a rejected credit decision?
Yes — address the specific weakness flagged. If LTV: commission independent appraisal; if DSCR: restructure lease/guarantee; if LTC: increase equity. Document changes in supplementary memo.
Related reading
👉 Our service : bank credit appraisal services.
📚 All our articles : real estate insights blog.
Bank financing dossier?
RICS appraisal validating LTV, LTC, DSCR. From MAD 3,500 excl. VAT.
Request a quote →