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 Pub purchase, refinance and purchase.
Almost all commercial property is acceptable, this includes:
We have access to a wide range of Pub 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 for hotels, pubs and restaurants.
The financial information that we will need to support a mortgage application is as follows:
THE LAMB LITTLE MILTON OXFORDSHIRE
Ian Duckett and Des Healey have always wanted to own their own pub. This has been achieved through the help of propertyfunding.co.uk, when they purchased the Lamb at Little Milton in March 2011.
Ian and Des already run a successful leasehold pub in nearby Chalgrove, coincidently also called the Lamb, which they have built up over 7 years. They provide good food and quality real ales and pride themselves on their high level of customer service.
Funding through a High Street Lender of 70% Loan to Value was secured to complete the purchase as well as bridging assistance for the VAT element.
“We had set ourselves a goal of buying a Freehold following 7 years of operating a tenancy with Greene King. We learnt that the Lamb in Little Milton was coming to the market following many years of ownership by Punch. It is a 16th Century coaching inn which we had known and loved for many years and decided that we should take the step to go for it. Having had an impeccable record with our existing business bank accounts we were confident that the bank would support us with the venture. However both that bank and the bank with whom we had banked privately for over 20 years were not prepared to assist with the funding of a pub purchase. We were stunned as we had a cash deposit of 30% and additional security to offer plus we had demonstrated that the new business was a viable proposition. At that point we searched the internet to explore alternative funding options and fortunately found Andrew Hunt of Sterling Capital Reserve. Andrew’s help and guidance was fantastic and he helped us to formulate a business plan that supported our application for funds in a comprehensive manner that was tailored to the expectations and demands of a market that was reluctant to support businesses in the pub/ restaurant sector.
It was a tricky process but Andrew was there supporting us throughout the whole process and without his help we honestly believe that we would not have achieved our dream. In addition to a commercial mortgage of 60% Andrew also secured a bridging loan to cover the VAT on the purchase price and an overdraft facility of £5K. I cannot recommend Andrew’s support highly enough, he has been a fantastic asset and we will always be grateful for that.”
Area - Midlands Pub and Restaurant in picturesque area
Client was a tenant of a large brewery and was given the opportunity to purchase the freehold at a substantial discount. Existing lenders would not assist at levels required despite serviceability being confirmed.
Pub Commercial Mortgage Solution:
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:
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:
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.