Leasehold Lending
Source Commercial Finance can help clients buy or refinance leasehold businesses such as pubs, clubs, restaurants and newsagents, and help you to find a tailored loan to suit your individual needs.
The untapped leasehold industry is an area few lenders are venturing into, yet there are over ten million businesses operating in the UK alone that will need some form of financing during the trading year.
The four major divisions of leasehold are:
· Retail
General stores, newsagents, off licences, post office stores, DIY shops, dry cleaners.
· Catering
pizza, pasta, kebab, Indian , Thai, Chinese, fish & chip shops, cafes, snack bars, hamburger bars, fast food outlets.
· Licensed
pubs, inns / taverns, wine bars, brasseries, bistros / bars, restaurants.
· Miscellaneous
All garages, sports goods shops, health / fitness clubs, hotels / guest houses, care/nursing homes, children's nurseries
Two forms of leasehold financing are available:
· Basic leasehold purchase
The maximum loan size considered on any case is £100,000 or 50% of purchase price or valuation, whichever is the lesser. The facility will be repayable over half the unexpired term of the lease or maximum of 60 months.
· Leasehold purchase with security
The maximum loan considered on any case is £500,000 or 100% of purchase price or valuation whichever is the lesser. The facility will be repayable over a maximum of 120 months, even on short leases, providing suitable additional freehold security is offered in the transaction.
Source Commercial Finance can offer you help and advice on leasehold financing. Please contact one of our advisers at Source Commercial Finance.