Hi there
We are currently looking at options to buy a local pub which has just come up for sale. We have once income of 90k per year which will continue and my husband would run the pub. The current price is in the region of 240k and it comes with a 3 bedroom accommodation. We don't have a huge amount of Savings but could get about 20k together. Any advice on if this sounds feasible from a banking perspective - would we be in the running the get the loan? I presume it's a business loan we would need to apply for which would be more difficult than a standard mortgage? Any advice would be greatly appreciated.
We are currently looking at options to buy a local pub which has just come up for sale. We have once income of 90k per year which will continue and my husband would run the pub. The current price is in the region of 240k and it comes with a 3 bedroom accommodation. We don't have a huge amount of Savings but could get about 20k together. Any advice on if this sounds feasible from a banking perspective - would we be in the running the get the loan? I presume it's a business loan we would need to apply for which would be more difficult than a standard mortgage? Any advice would be greatly appreciated.