Your number one choice when purchasing a hospitality mortgage
Regardless of your credit history, we have access to lenders who can help you
If you are looking to purchase or remortgage your hotel, guest house or B&B then First Commercial Funding is the mortgage broker for you.
We specialise in arranging hotel, guest house and B&B finance; we know the right lenders to approach to achieve the best rates and terms for your commercial mortgage. The commercial mortgages and bridging loans that we can arrange in this sector are simple and hassle-free, as our lenders see these properties as excellent security.
In this sector, even if you have got a bad credit history, then we still have lenders that will offer you a business loan when you look to purchase a new hotel, guest house or B&B or remortgage your property for expansion or cash flow purposes.
FC Funding has seen a vast increase in applications for hotel, guest house, bed and breakfast and holiday let mortgages due to people looking to gain the great lifestyle benefits of owning such a business, as well as constantly meeting new and interesting visitors. This, along with the fact that the leisure industry is constantly booming due to people wanting cheaper holidays at home in the UK, is a great reason to purchase or expand your existing business.
In some instances, outside income can be accepted when working out the affordability of the mortgage.
We can source a remortgage of an owner-occupied commercial mortgage with loan values up to 80%. You can use these commercial mortgages to either move onto a better package from your existing mortgage provider or raise capital to help you grow your business. The package offered by the lender is subject to the status of the client, the trade that you are in and the performance of the business. The commercial mortgage loan to value will usually be based against the bricks and mortar value of the property, however, in some instances, the lenders will base the loan to value against the full business appraisal (which would include the goodwill of the business).