Can first time buyers get B&B finance?
Absolutely. While previous experience running a B&B is a benefit when seeking B&B finance, it’s far from the only thing lenders look for.
Many factors affect the likelihood of securing finance for a new B&B – evidence of experience is just one – and with our help, we can make your first time application for a B&B mortgage as attractive as possible to potential lenders.
At Stewart Hindley, we can help you gather the documentation you need in support of your application for B&B finance as a new to trade operator, from strong income projections to proof of security. Our expert approach has helped many clients over the years to buy and run their own B&B businesses, including many first time buyers. Read our case studies about B&B funding to find out more.
How we help new to trade operators secure a B&B mortgage
Securing B&B finance for first time buyers takes specialist knowledge and industry-wide connections. Our aim is to source and secure the best loan or B&B mortgage on your behalf, which we do by identifying and approaching those lenders open to funding new to trade B&B operators.
It also helps if you can demonstrate dedication and willingness to learn the B&B trade by taking part in a specialist B&B management training course. We can recommend recognised trainers who can quickly introduce you to the essentials of running a B&B, with exactly the guidance you need.
With us working on your first time B&B debt application, we will ensure that you understand all of the options and are aware of the process – from the very beginning to when you finally have those B&B keys in your hand. Naturally, the mortgage will be agreed subject to market conditions, your own financial circumstances, and the market value of the business you wish to buy.
What will it cost you?
Your monthly business mortgage payments to settle interest and capital will be…