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B&B heaven?
naturegirl_2
Posts: 125 Forumite
I want to live in and run a B&B on Isle of Mull business seems good here but the cost of houses are above adverage. Even if I sell my own house (approx £100,000) in hand, I will still need around £150,000 mortgage.
Question is can I get one? or would I get a business loan. I will be running craft workshops too to earn extra income
Question is can I get one? or would I get a business loan. I will be running craft workshops too to earn extra income
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Comments
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I think more information is needed. Are you saying that you have £100,000 equity in your current property, but that in total you would need £250,000? (£150,000 mortgage)?I have been in the insurance industry for the past 6 1/2 years (protection products)
We have now bought our first home :j(completion date - 23.07.2010)
Wedding budget: £2,000 so far spent: £1,850. Wedding date of 27.08.2011 :T0 -
Almost certainly a commercial mortgage needed but for any more comment would need more information from the OP.
Without a considerable equity investment, a good business plan and some sort of record in business is unlikely to be possible.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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