Commercial Mortgages for Restaurants and Public Houses
Including property with living accommodation, multi-unit property, or an element of property investment, there are terms available to assist with all enquiries.
Funding options are available up at 75% Loan to Property Value. Additional debt terms also available through other avenues where this is insufficient to meet the requirement.
Terms can be structured up to 30 years, however we find most clients prefer to utilise 5 years to 25 years as these can often include lower interest rates.
There are also additional options available where part of the property is let to a third party tenant, including mixed use asset types, whether that be residential income via an AST or other commercial tenants, this can sometimes assist clients in obtaining an increased debt quantum over what would otherwise be achievable.
Recent cases have included; established and start up restaurants, fish & chip shops and other businesses which frequently handle cash transactions and cafes with living accommodation above.
Refinance of existing debt held against Public Houses where a strategy change has been implemented to consolidate income from both wet and dry sources are also placed frequently.
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 out
