commercial mortgage

niccy

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

JoeK_3

niccy wrote: »

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.

JoeK