| Property | Freehold restaurant with a staff flat above |
|---|---|
| Location | Leicester city centre |
| Client | Family-run restaurant business trading for six years |
| Product | Commercial mortgages |
The challenge
Hospitality is seen as higher risk by many commercial lenders. The business's profits dipped two years ago and have since recovered.
What we did
We presented three years of accounts with a clear explanation of the dip and the recovery since. We approached lenders with hospitality experience and appetite for trading businesses. The flat above added to the lender's comfort on value.
The outcome
The family bought the freehold, swapping rent for a mortgage that builds equity in their premises.
Commercial mortgagesFinance to buy or refinance offices, shops, warehouses and other business or investment premises.
Learn moreImportant: Commercial mortgages and most business finance are not regulated by the FCA. Your property may be repossessed if you do not keep up repayments on loans secured against it.