Leisure & hospitality property types

The leisure and hospitality sector covers a variety of businesses and property types. We can help source finance for:

• Hotels
• Pubs
• Restaurants
• B&Bs and guesthouses
• Caravan and leisure parks
• Golf clubs / courses
• Children's activity centres
• Health clubs / gyms
• Sporting facilities
• Holiday lets
• Comedy clubs
  

Qualifying for finance 

If you are looking to achieve the very best rates specific industry experience is key. It is worth noting that industry experience is transferable e.g. if you have run a guest house in the past and are now looking to purchase a leisure park your application will be considered.

If you have no experience in the industry, there are still options. Just expect rates to be slightly higher. To support your application, lenders like to see you are professional. They will be interested in the management structure of your business – CVs to show the experience of key employees will help. They will also want to see a detailed business plan showing projected profit and loss and cash flow forecast.

We will work with you to package your application to ensure it stands the best chance of being accepted.

Mortgage rates and terms for leisure & hospitality

We can obtain the following terms for leisure and hospitality:

• Rates from 2.3% above Bank Rate
• Lender arrangement fees from 0% - 2% of the loan amount
• Loans from £75k - no upper limit
• Minimum term: 5 years
• Maximum term: 25 years
• 6 - 12 months offered on an interest only basis if the premises requires refurbishment or restocking
• Enterprise Guarantee Scheme: rates available from 3% above Bank Rate (max term 10 years)
• Loan to value up to 80% LTV - the LTV achievable will depend on individual circumstances
  
• Up to 100% of purchase price if additional security is provided and the business profits support the mortgage

Standard documentation required

If you’re looking to apply, please be prepared to provide the following:

• A completed commercial mortgage application form
• Proof of ID and address
• Latest 2-3 years' accounts for the new business (if purchase)
• Latest 2-3 years' accounts for the current business (if refinance)
• A copy of your CV
• A copy of your key employees' CVs - e.g. hotel manager
• Six months' personal bank statements
• Six months' business bank statements (if remortgage)
• A schedule of assets and liabilities in conjunction with personal income and an expenditure statement
  
  

Mortgage application processing times

Processing times vary depending on the complexity of the application, on average ranging between three and four months. Whilst these are the usual turnaround times we have completed deals within six weeks.

How to apply for leisure and hospitality finance
Call: 0345 345 6788 
Email: enquiry@mortgagesforbusiness.co.uk