How much can I borrow?
If the business is being acquired on a going concern basis, the purchase price will include fixtures & fittings and goodwill. We can obtain up to 70% of the purchase price or going concern valuation whichever is the lower.
If borrowing is restricted to the property value, we can obtain up to 70% of the valuation.
This can increase to up to 100% if additional security - All subject to serviceability.
What are the repayment terms?
The term can be arranged to suit your circumstances, 20 years is typical, but we can arrange up to 25 years.
What are the interest rates?
This largely depends on the quality of the Hotel, the experience of the applicant, loan to value and the strength of the accounts. We can provide a written illustration on request.
What costs are involved?
What are the timescales?
In most cases, we can obtain an agreement in principle within 48 hours.
A valuation will take up to 2 weeks to arrange and complete
The rest is dependent upon the speed of your solicitors (and sellers solicitors if a new purchase).
You should set aside up to 8 weeks for the whole process of enquiry to completion.
What do I do next?
Call us, email us, or submit an online enquiry request.
One of our experienced consultants will then contact you and discuss your requirements in more detail.
We look forward to discussing your proposition with you.
Please call us on 0844 4144 383 or complete our enquiry form.
Sterling Capital Reserve Limited is a Broker not a Lender.
Sterling Capital Reserve Limited is authorised and regulated by the Financial Conduct Authority.
Sterling Capital Reserve Limited is entered on the FCA Register https://register.fca.org.uk under reference 733615.
The guidance and/or advice contained in this website are subject to the UK regulatory regime and are therefore targeted at consumers based in the UK.
Sterling Capital Reserve Limited is registered in England and Wales No. 3853461.
Sterling Capital Reserve Limited is registered for VAT No. 737604523.
Sterling House, 5 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham NG12 4DG
Tel: 0115 984 9800 Fax: 0115 921 5550 - Map and Directions to our Head Office
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.