Stress!! Business Mortgages
dsk1980
Forumite 11 Posts
My partner and I opened a hairdressing salon last year and rent the property in which we operate.
Our Landlord has offered to sell us the property for a heavily discounted price, as his 91 year old father-in-law lives in the flat above the property (which we would also be purchasing) and they want him to stay there for a relatively low rent.
We are desperate to buy the property, but as we have only been trading for 7 and a half months, have little proof that the business is doing well (which it is).
The bank also want 20-30% deposit £40-60k, which due to us putting all our money into the business last year, we cannot get our hands on.
Our only chance is re-mortgaging the property in which we live, where we can get a maximum of £30k out.
Does anyone have any ideas how we can buy this property?!?
(I know it;s a long shot!)
We just don;t want someone else to buy the property, as we are unlikely to have the chance to do this again.
Any help would be greatly appreciated!
Our Landlord has offered to sell us the property for a heavily discounted price, as his 91 year old father-in-law lives in the flat above the property (which we would also be purchasing) and they want him to stay there for a relatively low rent.
We are desperate to buy the property, but as we have only been trading for 7 and a half months, have little proof that the business is doing well (which it is).
The bank also want 20-30% deposit £40-60k, which due to us putting all our money into the business last year, we cannot get our hands on.
Our only chance is re-mortgaging the property in which we live, where we can get a maximum of £30k out.
Does anyone have any ideas how we can buy this property?!?
(I know it;s a long shot!)
We just don;t want someone else to buy the property, as we are unlikely to have the chance to do this again.
Any help would be greatly appreciated!
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