Interested in getting a commercial mortgage to fund a hotel?
The Mortgage Hut can help find and arrange mortgages for hotel purchases for both experienced and new hotel owners. Hotels have the potential for good returns on your investment, however with the industry being seasonal and somewhat unpredictable, lenders tend to be cautious.
Qualifications and experience will help your mortgage application greatly. If you are looking at buying your first hotel, at least 2-3 years experience in the industry would normally be required by lenders.
The Mortgage Hut can help those looking for Hotel Finance
To get a mortgage after repossession in the Uk, ‘when you were repossessed’ is probably the first question the expert will ask you as it’s the most important factor – the more recent, the more difficult. As the table below explains, if you were repossessed at any point in the last 3 years it makes it very tricky to find a mortgage without a sizeable deposit; over 3 years ago and you have a chance of being approved up to 85% loan to value (LTV); over 6 years ago and you can get up to 95% LTV.
- Experienced hotel owners looking to expand their portfolio
- Those with hotel experience looking to buy their first hotel
- Investors looking to purchase either freehold or leasehold properties
- People who have been rejected for similar finance in the past
Contact The Mortgage Hut today for help and advice from a qualified commercial mortgage specialist
One of our friendly advisers can help you with your search for a hotel mortgage. Once we have assessed your circumstances, we can look for a lender that will suit your needs, help you prepare your application and support you throughout the mortgage application process. As well as having a wide range of lenders to search from, The Mortgage Hut are also here for general help and advice, ensuring your hotel mortgage application runs smoothly from start to finish.
Get in touch to speak to an adviser.