UK Commercial Hotel and Restaurant Mortgages
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Our commercial property mortgage consultants all have backgrounds in the banking sector and can offer added experience and advice to clients in respect of structuring commercial property deals such as commercial mortgages for Hotel Refinance and Refurbishments, Restaurants and Nightclubs.
Jump to: Acceptable Security | Mortgage Application Requirements
Case Study 1 - Hotel Refinance & Refurbishment - £750,000
Area - Commercial Hotel in busy coastal town, Kent:
Our client wanted to convert some of the Hotel's outbuildings into Conference Rooms and finish off a general refurbishment programme. The existing bank loan facility had only 8 years to run.
Hotel Commercial Mortgage Solution:
- Mortgage of £750,000
- Repayment term of 20 years
- Repayments on the new mortgage were actually less than the existing facility, due to 'stretching' the repayment term.
- At bank base rate plus margin 1.5%
Case Study 2 - Hotel and Restaurant - £250,000
Area - Hotel & Restaurant in a busy Market Town, North Wales
The client was seeking funds to extend the Restaurant where demand was very strong. Existing bankers were not being overly helpful; there had been a recent change in Manager and the new incumbent seemed cautious.
Hotel and Restaurant Commercial Mortgage Solution:
- £250,000 to repay existing borrowings and cover the extension costs.
- A 15-year repayment facility was agreed at bank base rate plus margin 2%.
Case Study 3 - Hotel and Holiday Lets - £1,000,000
Area - Purchase Cumbiran Country House Hotel plus a number of bungalows in the grounds.
The existing site was not being utilised to its full potential. Our client's plans included provision of conference facilities, wedding venue as well as more actively marketing the site as a holiday location.
Hotel Commercial Mortgage Solution:
- A 15 year repayment facility was agreed at bank base plus margin 2%.
Hotel and Restaurant Commercial Mortgage acceptable security
Almost all commercial property is acceptable, this includes:
- Pubs and restaurants - Freehold Only
- Farms
- Factories and Semi Commercial
- Offices
- Investment properties
- Retail premises
- Hotels, guest houses, B&B’s
- Takeaways and cafes - Freehold Only
- Holiday let
Hotel and Restaurant Commercial Mortgage Application
We have access to over 80 Hotel Commercial Mortgage lenders, with some offering Adverse Credit Commercial Mortgages enabling us to match the client’s UK Hotel Commercial Mortgage requirements to the most appropriate lender. At Sterling Capital Reserve, we are able to source a wide range of innovative and competitive commercial property finance packages, secured against investment property, factories and offices, warehousing and storage, hotels, pubs and restaurants, care homes and professional practices.The financial information that we will need to support a mortgage application is as follows:
- Last 2 years Audited Accounts
- Latest Management Figures
- Profit & Loss Forecast for next 12 months
- Last 6 months business bank statements
- Brief CV/profiles of partners/directors
- Asset/liability statements of applicants
Alternatively if you can't arrange any of the above - we are one of the few brokers who can offer Non Status Hotel Commercial Mortgages.
All cases are supported by professionally prepared credit applications, thereby significantly enhancing the chances of our clients securing the optimum financial package. Unlike some of our competitors, we do not believe in up front charges. Our fees are only payable when our client has received a formal offer of finance.
© 2012 : Sterling Capital Reserve Ltd
Sterling Capital Reserve Ltd
Sterling House, 10 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham NG12 4DG
Tel: 0115 984 9800 Fax: 0115 921 5550
ANY PROPERTY USED AS SECURITY, INCLUDING YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
EARLY REPAYMENT CHARGES APPLY. A BROKER FEE MAY APPLY.
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