The bed and breakfast is a big part of UK culture. Many people love nothing more than a short, relaxing stay in a warm and welcoming environment. Bed and breakfast establishments tend to feel a little more homely than large scale hotels; more often than not the owners reside in the property, and guests like the sense of being welcomed into their personal home.
Bed and breakfast businesses are responsible for injecting billions into the economy on an annual basis, and this makes them an attractive prospect for financial lenders. The fact that they have strong residential value and plenty of potential for economic success gives lenders substantial incentive to lend against them. We specialise in helping our clients secure bed and breakfast finance and mortgages, we can provide full support regarding every aspect of guest house finance.
We have extensive experience in the hospitality sector and comprehensive knowledge of the industry. We are able to oversee every stage of your application for bed and breakfast finance and provide you with beneficial advice and comprehensive assistance. We will use our knowledge and experience to devise the right business plan for you and engage with lenders that have an awareness and understanding of the nature of the sector.
B&B mortgages naturally differ, but typical features include a 15-20 year mortgage term along with a 60-70% loan to property ratio value. Many hospitality establishments are found in coastal towns that operate seasonally. As a result of this, a B&B mortgage will often consist of seasonal payments. It is our role to facilitate financial agreements with lenders who understand the realities of seasonal businesses.
We can arrange the right bed and breakfast mortgage on your behalf and you can be sure that the terms will be subject to your own personal circumstances, market conditions and the comprehensive value of the business itself. We dedicate ourselves to offering the highest standard of service possible which is why our clients only pay a broker’s fee when an offer of finance has been officially accepted. We have successful relationships with many respected and reputable lenders and we can be relied on to deliver a professional and trusted service to help you obtain that all important funding.