Commercial Mortgages Hotels and B&Bs
Funding terms are available for all types of hotel and holiday accommodation and businesses of both an established and start-up basis.
Many clients looking to open a new Bed & Breakfast are able to access terms they didn’t think would be available to them, including where buying an established business or a genuine start-up scenario.
Maximum finance options available up to 75% of the asset value, whether this be for a single property, or multiple sites, including multiple locations within the same business or complicated group structures.
Terms can be structured up to 30 years, with multiple repayment and interest only options available.
What’s required for an assessment? Whilst we can often quote on the first call or in response to the initial email with outline terms available, in order to allow a member of the team to fully appraise an enquiry, it is very useful to have the following information available:
- Latest accounts
- Expected Property Value
- Required Loan amount
- Proposed use of funds (i.e. purchase, remortgage)
- Indication of client experience in the relevant sector and also an understanding of the business itself
Whilst more information will be needed in due course, the information above will allow an initial appraisal and an indication of financial terms to be outlined.