Mortgages for Commercial Properties: Bed and Breaskfast

Financial Services > Mortgages > Commercial > Commercial Property: Bed and Breakfast

Many people in the UK dream of giving up their nine to five lives and setting up their own bed and breakfast business by the sea or in the country. And for many that do it, by either finding the right property in the right location or by turning their existing home into a B&B, the benefits that this lifestyle can offer mean the hard work involved is all worthwhile.

Buying a property that is currently being used as a bed and breakfast business is the most straightforward way to get started however such businesses may not always be that easy to come by. Turning any property into a B&B involves having permission granted from the local council and ensuring that the building complies with building and fire safety regulations. There are also a number of other licenses that may also need to be obtained, for example, to serve alcohol or to play music; or a hotel license may be needed if TVs are to be provided in the bedrooms. Preparing cooked breakfasts for guests will also involve informing the local Environmental Health department who will need to make regular inspections.

Borrowing money to buy a property to be used as a B&B will involve presentation of a comprehensive business plan, detailing why and how the business will work. Typically, a lender will ask for a business plan to address:

If you are looking to borrow money for any type of property for any purpose, or for business or mortgage advice, please complete a Mortgage Enquiry Form above and we will arrange for one of our specialist mortgage advisers to contact you. Alternatively, you can call us on 0845 108 0505.