Guest House Mortgage: lifestyle change move to Whitby

Keith & Yvonne had struggled during the pandemic like many other people to find a mortgage broker/lender that had appetite for new to trade operators, particularly where there were limited trading accounts available. Thankfully they found our website online and got in touch.

The trading circumstances and limited accounts made it a real challenge to source any lenders with appetite to consider and move forward with the loan Keith and Yvonne required, however, as we at Stewart Hindley specialise in mortgages for guesthouses, particularly new to trade operators, we have a good relationship with several specialist lenders as a result we were very confident would be able to support Keith & Yvonne during this challenging period.

However, it wasn’t all plain sailing; there were some hold ups with the solicitors, which was very stressful for our clients, as it was looking likely that the conveyancing work that needed to be undertaken was going to take longer than expected delaying the completion.

Throughout the process Stewart Hindley’s Case Manager was always on hand and liaised between all parties to keep things on track and moving in the right direction, even when matters were outside of our direct control.

Keith & Yvonne were provided with updates throughout the process giving them the reassurance that we at Stewart Hindley could deliver the results they wanted after their initial declines, and we did just that!

Keith & Yvonne have said that without our support it is very unlikely they would be where they are today and are now proud owners of The Europa Guest House in Whitby and looking forward to welcoming their first guests.

What Keith & Yvonne say about Stewart Hindley

Stewart Hindley was absolutely amazing, Janette was brilliant all the way through the process, which at times seemed would never happen.

Janette was always on the other end of the phone with her calm and very professional way which took the stress out of the problems we were having to overcome.

There is no doubt in my mind without the help from both Chris and Janette our B&B would have never of got off the ground.

I would highly recommend Stewart Hindley every time and cannot thank them enough for all of their professional help.

Trinity Guest House – Finance For Bridlington Guest House Owners

Linda & David initially got in touch with us prior to the first lockdown back in March 2020 before deciding to put their plans on hold for a while. When restrictions started to ease a little, they came back to us having had an offer accepted on The Trinity Guest House in the seaside resort of Bridlington.

Lending criteria had changed quite dramatically since the start of the pandemic and with the vendor not keeping any formal accounts, it was a real challenge to source any lenders with appetite to move forward with the loan. Clearly, this was very disappointing for Linda & David, however we at Stewart Hindley are a determined lot and we don’t give up without a fight, so to get the deal over the line, when all other brokers and main stream lenders declined, we approached one of our specialist lenders.

As Linda was able to continue her employment as a Key Worker with David mainly running the business, the lender was able, as an exception, to consider our loan proposals by taking Linda’s income into account for the mortgage repayments rather than just the business income, which is normally the case. This did come at a slightly higher rate of interest, but it got our clients where they wanted to be during this period of uncertainty.

Throughout the process Stewart Hindley’s, Case Manager, maintained a fluid working relationship with the lender, keeping track of the case and providing additional information as required as well as providing Linda and David with updates and reassurance that we at Stewart Hindley could deliver after their initial declines.

Linda & David are now proud owners of The Trinity Guest House and are looking forward to welcoming their first guests in the near future. David has almost 40 years’ experience as a chef, so you can expect to enjoy delicious breakfasts as well as first class hospitality. David is also planning to hold special events such as Valentine weekend breaks that will include evening meals as well as attracting groups such as walkers and cyclists.

What Linda & David say about Stewart Hindley

What a time to try to buy a Guest House! Covid did not help us at all and after a long search we found the one we liked. Disappointingly, the trading accounts were so poor they did us no favours and didn’t represent the trade and the opportunity to improve the trade going forward.

However, after approaching Stewart Hindley & Partners, Janette, our Case Manager and Chris, one of the hospitality specialists, persisted and eventually found us a lender which as it turns out was the only one available to us.

The interest rate was a little more expensive then we envisaged, but we have what we wanted and over the next 2 years of hard work, we will have a decent set of trading accounts so we can go back to Janette at Stewart Hindley and ask them to find us a better deal.

Thanks Janette for all your help & support.