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commercial mortgage
niccy
Posts: 597 Forumite
we are looking for a business such as hotel,holiday home park.We have previous business knowledge and understand LTV and most other critera.We will have around £100k of equity in our property.Given that most lenders offer around 85% are we restricted to looking at business around £650k.
The reason i'm asking is that my wife has set her sights on a holiday park (owners house, and 5 holiday bungalows)priced at £1000,000 We understand that until we have the books scrutinised,nothing is certain.
Thanks for any help
The reason i'm asking is that my wife has set her sights on a holiday park (owners house, and 5 holiday bungalows)priced at £1000,000 We understand that until we have the books scrutinised,nothing is certain.
Thanks for any help
living on the "edge"
0
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we are looking for a business such as hotel,holiday home park.We have previous business knowledge and understand LTV and most other critera.We will have around £100k of equity in our property.Given that most lenders offer around 85% are we restricted to looking at business around £650k.
The reason i'm asking is that my wife has set her sights on a holiday park (owners house, and 5 holiday bungalows)priced at £1000,000 We understand that until we have the books scrutinised,nothing is certain.
Thanks for any help
You can borrow up to 85% of the property value without the need to provide accounts.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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