Commercial mortgages anyone lending?

lifechanger_2

Hi,

Considering buying a leisure business but is anyone lending atm?
The buisness has a turnover of around £230,000 & comes with 3 bed house, land & all stock equipment etc.
We would need to get around £400,000 putting down £300,000 ourselves.

It's all pie in the sky atm but would hopefully be a sound investment & paying for the loan in around 10yrs. We would run it ourselves & although a huge commitment it's something we have always wanted to do.
But.........is it too risky in the current financial climate??

Any views appreciated, thanks.

Rick62

Yes, still plenty of lenders will do sound commercial mortgages (in spite of headlines). For something like your proposal you would be looking at either rregular high street commercial, or specialist agricultural type lender (depending on exact nature of business).

Max LTV these days about 70% (so £400k, about 57%, fine) and would look for good profits, i.e. after costs.