Category Archives: B&B Finance & Funding

Park View B&B

Park View B&B – Glen Coe on your doorstep

Johnny Buckland had been running the Park View B&B in Ballachulish for a few months as a leaseholder and the opportunity arose for him to purchase the freehold and make the property his own.

Johnny recognised the value in using a specialist Finance Broker and decided to contact us at Stewart Hindley & Partners.  After some initial discussions it was decided the best way forward was to release some equity he had in another property to help with the deposit for the purchase and to have a commercial mortgage for the rest of the purchase price.

We were able to recommend a residential broker who helped him with his equity release which enabled him to proceed with his commercial mortgage application.  During the process the vendor requested regular updates which we provided on a 2 – 4 week basis.

Park View B&B is located in the beautiful Glen Coe area of Scotland which is a stunning area for walkers, skiers and general sightseers. The B&B offers comfortable rooms at reasonable prices and Johnny has a wealth of hill walking and mountaineering experience he is keen to share with you.  He is happy to provide general safety advice or a range of walking routes to suit all abilities, staying at Park View gets you a little added value!

http://www.parkviewbnbscotland.co.uk/

Five Key Factors To Consider When Converting A Home To A B&B

Five Key Factors To Consider When Converting A Home To A B&B

If you are thinking of running a bed and breakfast business from your UK home, this will almost certainly involve significant finance considerations.  Our specialist team of b&b finance advisors, here at Stewart Hindley, have identified 5 key factors which will come into play:

  1. Planning Permissions

Whether or not you will need building planning permissions will depend on the amount of building work required and will be subject to the local authority’s usual residential planning guidelines.

If you are converting more than one or two bedrooms, you may also be required to apply for ‘change of use’ and your local council should be able to provide advice.

  1. Building Regulations

The building regulations which apply to bed and breakfast establishments change quite regularly, particularly with regard to health and safety regulations, so it’s vital to refer to an up-to-date source of information.

Different regulations will apply depending on the size of your house and the number of guests you want to accommodate.  At minimum, you are likely to have to install things like fire doors, emergency lighting and fire safety signage, and the kitchen will probably need some work too.

Bed and breakfast businesses are also required to offer separate washing and toilet facilities for your family which won’t be used by guests and you may find that this involves quite a lot of unexpected work.

  1. Fitting Out Costs

Furniture and fittings will need to be of good quality to withstand constant use, and soft furnishings and beds etc will need to comply with current fire regulations.

To attract guests in a very competitive UK b&b market, allow enough in your budget to make communal areas like dining rooms and lounges, clean, bright and fresh.

  1. Advertising and Marketing costs

The hardest part of advertising and marketing is to come up with your image and style.  We would advice setting some money aside to commission a graphic designer to come up with a logo and brochure material to give a professional look to your website and promotional materials.

Spend time researching the local market and the search engines, like Trip Advisor, which are likely to be most effective at attracting the clientele you are seeking to attract.

  1. Do you have a b&b mortgage?

If you are thinking of running a b&b from home, you are legally required to advise your current mortgage provider of your intentions.  Most residential mortgages do not allow you trade rooms, so you would need to re-mortgage onto a commercial mortgage –  but don’t worry because our team at Stewart Hindley & Partners can advise you.

There are a limited number of lenders who will allow 1 or 2 rooms to be let on a residential mortgage, but it has to be done in agreement with the lender.  If a lender realises that you are trading on a residential mortgage they can call in the loan due to breach of covenant.

Trading on a residential mortgage can have serious consequences.  You could be forced to re-mortgage and in some cases, if your trade income is not enough to cover the amount of debt involved, this may not be possible. The worst case scenario may be that you lose your home as well as your business.

We strongly recommend that you don’t wait until it’s too late and look to take out a commercial b&b mortgage from the start.

Contact us now for friendly and professional advice based on many years of experience in the bed and breakfast and hospitality finance sector.

Sources:

http://www.startabedandbreakfast.co.uk/b-and-b-how-do-i-convert-house.html

Capri GH

Bed & Breakfast Dream Come True in Llandudno

Lee Scott returned to England with the ambition to own and operate his own guest house.  He found the perfect property in Llandudno, close to the Great Orme Railway and town centre so he made an offer and it was accepted.  The dream had begun to be a reality.

The business had been trading but, in the past year or so, the owners retired and ceased trading the concern.  They did, however, leave the guest house in a state where it could be traded almost straight away with just a few immediate updates to be done which was a bonus for Lee as he could more or less move in and start trading. 

Although there were some historic accounts for the business there were no recent figures.  This meant that the application would be mainly premised on projections, which is always a more challenging position from which to apply for a hospitality loan.  The fact the concern was in a popular holiday destination helped and with Stewart Hindley & Partners’ experience we were able to make a successful application on Lee’s behalf.  We supported Lee with his bank meeting and commercial valuation arrangements and made sure he was kept up to date on progress throughout the purchase.

 Lee has just taken possession of the Capri Guest House (May 2017) and is ready to welcome his guests.  If you want a seaside holiday in North Wales then I am sure you will receive a warm and friendly welcome at the Capri.  You can check out his rooms and rates at www.thecapriguesthouse.co.uk

“Stewart Hindley and Partners offered me a professional, helpful and reliable service, the service they offered was first class from start to finish. Stewart Hindley and Partners drew up a business plan and enabled me to secure a commercial mortgage for purchasing a Guesthouse and pursuing my goal in Llandudno North Wales. Further to the above I would highly recommend Stewart Hindley and Partners to any other small or large business wishing to obtain finances in said projects”

 Lee Scott – Proprietor, The Capri Guesthouse

What-the-secret-of-the-great-British-B&B-3

What’s the secret of the great British B&B?

British Bed and Breakfasts have never been more popular and in a competitive market, the most popular are the ones with attention to detail, personal service and really make the most of their locations and history to develop their own style.

Look at the Daily Telegraph’s recent Top 10 and the combined selling points that make them stand-out B&Bs:

  1. Cuil an Duin, near Pitlochry, Perth & Kinross

This B&B is praised for its:

  • Beautiful setting – great mountain views, is surrounded by woodland, and set in 20 acres of its own stunning gardens.
  • Attractive elegant rooms furnished with Persian rugs, modern art, flowers and a gleaming Bechstein piano and the bedrooms are luxurious and comfortable
  • Breakfast eggs from the owners’ hens with artisan shops supplying the trimmings
  • Its charming hosts – Sally and David and not forgetting their Jack Russell Teddy and Chloe the cat who stay behind the kitchen door until given the all clear.
  1. The Control Tower, near Walsingham, Norfolk

This accommodation offers:

  • a unique slice of history – a beautifully restored RAF squadron control tower with remarkable modernist and Art Deco detail.
  • House tours include the open roof deck
  • Guests outdoor lunch al fresco in the two-acre wild flower garden
  • Nearby wide beaches of Wells-next-the-Sea and seal spotting trips to Blakeney Point.
  1. Botelet near Liskeard, Cornwall

This offers:

  • The chicest of shabby chic style farmhouse accommodation
  • In a quiet location the end of a wild-flower strewn lane
  • Opportunities to explore the farm and walk the wooded valley
  • A treatment room therapeutic massage in the treatment room
  • A quirky, friendly, artistic and fun vibe
  • Cottages, amazing yurts and a campsite are also available
  1. The Linhay, near Crediton, Devon

  • A peaceful hideaway close to Dartmoor and Exmoor
  • Beautiful setting in an open valley with a running stream with orchard views.
  • Accommodation with a quirky, natural feel to the B&B accommodation in a lovely old barn with its own little kitchen area
  • The owners also run Start a Smallholding courses.
  1. Wickton Court near Leominster, Herefordshire

  • A rambling old place steeped in history – a former courthouse that dates from the 15th century (complete with a wig room)
  • Many local sights close by
  • Cosseting bedrooms with generous curtains and big bathrooms
  • Characterful – with wonky floors and ancient beams; one room even has a wood-burner.
  1. Westbourne House, Cowes, Isle of Wight

  • An elegant Georgian townhouse on the waterfront with stunning sea views
  • Cosy well-dressed beds.
  • Close to Cowes’ attractive High Street full of desirable shops, bars and restaurants
  • Lovely walks along the sweeping promenade.
  1. Waterlock House, near Canterbury, Kent

  • Another stylish Georgian town house
  • Guests get an airy loft apartment on two floors with its own entrance with a vast bedroom/sitting room
  • Furnished with quirky French antique pieces, a painted black and white diamond floor, a sink-into sofa and a very comfortable big bed.
  1. Primrose Hill Farm, near Banbury, Oxon

  • A peaceful spot on the edge of the Cotswolds
  • Farm setting in 80 acres dotted with sheep and horses
  • Immaculate interiors with calm and inviting bedroom, deep beds, fat feather pillows, pretty lamps and vases of flowers
  • Elegant sitting and dining rooms look uphill to the woods
  • A warm welcome from all including Trouble the terrier also helps guests to feel at home.
  1. Ponden Hall, near Haworth, West Yorkshire

  • Huge history – Said to be the inspiration for Emily Bronte’s Wuthering Heights
  • Period style including mullion windows, huge flagstones, period pieces and original paintings.
  • Bedrooms balance luxury and individuality – two rooms have log-burning stoves
  • Lots to see and do – Nearby is the Pennine Way, the steam train at Keighley and the Brontes’ home at nearby Haworth.
  1. Gladstone’s Library, Hawarden, Flintshire

  • Steeped in history – Founded by the politician William Gladstone
  • Not just a B&B, but also a peaceful, restorative retreat: Guests have a choice of 250,000 books in the reading room, silence, space, convivial company if they need it
  • Also offers a programme of optional talks and courses
  • Theatre Clwyd and the city of Chester only 15 minutes away
  • Cosy not Techy – A ‘Roberts Radio’, rather than HD TV, sort of place.

Looking to finance your own B&B?

Do you have what it takes to run a great B&B?

If you are considering starting a B&B or are looking to invest in improving or expanding your existing B&B business, then chances are you will need B&B finance and it makes so much sense to go to people, like Stewart Hindley and Partners, who understand the business through and through.

We are long-established specialists in securing B&B mortgages.  Our experienced team will be able to offer you friendly and informative advice to help you succeed in your business.  Browse our site for case histories and more information about the process involved in securing B&B finance or call us now to speak to our team of experts.

equestrian B&B

Taking advantage of the Equestrian B&B boom

With many of today’s horse owners looking for different and interesting places to take their horse to ride, there are good opportunities for Bed and Breakfast owners with access to the right facilities to expand their businesses.

If you run a rural bed and breakfast with good riding country nearby and have your own stables and paddocks on-site (or a livery yard or riding centre very close by) then offering this additional service could generate valuable group B&B business for you.

Guests are typically looking to stay close to their horses and in small groups so they can ride with their friends.

Key equestrian B&B features

Key features these customers would be looking for are:

  • Good off-road riding in beautiful countryside and/or good equestrian training facilities. The availability of beach riding is also a big plus because it’s an experience that not all horse owners can normally enjoy.
  • Well fenced, clean grazing
  • Clean and safe stabling and/or shelters in good working condition with water available. You don’t necessarily need that many, but it is useful if the capacity matches your own B&B accommodation for your two legged guests!
  • Somewhere secure to park their horseboxes or trailer and store their equipment.
  • The facility for guests to purchase straw or shavings for horse bedding for stabled horse
  • Local advice/guidance on the best riding routes and access

If you don’t have your own facilities on-site, it would be worth talking to your local riding centre or livery yard to see if they would have spare capacity.  It is important to remember though, that for it to be an attractive proposition to this market, the horse accommodation should ideally be within walking distance, or a short car journey away.

If you think you could meet the above criteria, it could be worth exploring your hospitality finance options to help you invest in equestrian facilities.

How to market your equestrian B&B

The British Horse Society, which is dedicated to improving the lives of horses and helping horse riders to get the most from their relationship run a ‘Horses Welcome scheme’ which is the UK’s first quality-assured scheme for equine bed and breakfast accommodation. Started in the south of Scotland in 2006, it has since grown to include members all over the UK and Ireland. Becoming a member of the scheme demonstrates a commitment to providing a genuine ‘home away from home’ for horses.

Various other B&B listings will also offer stabling as a filter for online searches, enabling horse owners to identify their options quickly and easily

Would your equestrian B&B offering require hospitality finance?

Whether you are looking to expand your existing bed and breakfast operation into areas like this, or are looking at starting a B&B business, the chances are you will need B&B finance and it is worth seeking advice from us here at Stewart Hindley & Partners we specialise in this sector and can provide you with a solution that suits your requirements.

If you want to see how much the loan will cost each month take a look at our online Business Mortgage calculator or call us to find out how we can help.

bed and breakfast funding

English B&Bs dominate TripAdvisor 2017 awards list

The humble English guest house has triumphed over its international counterparts to claim five of the world’s top 10 best B&B slots, according to travel giant TripAdvisor.

Bindon Bottom B&B, in West Lulworth, Dorset received the top award, beating competitors in Florida, Prague and Belgium.
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b&b-show-logo

How to find the best Bed & Breakfast finance advice

Ask The Experts At The B&B Show
22-23 February 2017 Bristol

Stewart Hindley & Partners, leading specialists for Bed & Breakfast finance, will be exhibiting at The B&B Show in Bristol later this month.

The Show provides a unique one-stop opportunity for Bed and Breakfast, Guest House, and small Independent Hotel owners to build up their knowledge of the latest techniques, innovations, issues surrounding this industry and to network and meet other people operating in the same sector.
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Training for bed and breakfast ownership on a B&B course

Did You Know You Can Attend a B&B Course?

When starting a new venture it is always a good idea to get as much information on the area in which you choose to go into.  You probably think that running a B&B or Guest House is fairly straightforward and on the whole it is, however, it is not just cook a breakfast and change some beds.

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bed & breakfast-finance

Getting a Commercial Mortgage is not always easy!

We were instructed by a client in East Sussex who had been with her bank for over 40 years. She purchased a house in a popular tourist town close to Brighton in East Sussex with a regular residential mortgage but after moving in she decided to let out two of her three bedrooms as B&B accommodation.  She traded well and paid her mortgage every month, unfortunately the bank then realised she was trading the business and as her mortgage was not a commercial one they called in her loan due to a breach of covenant.

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