At Fleurets, we are passionate about providing detailed professional advice with the upmost integrity. Sound advice you can rely on to make big decisions about your future.
With this in mind, we have set out some of the key aspects to remember when it comes to purchasing a leisure property.
The first thing you should do when considering buying a leisure property is establish your budget. With bank funding still difficult to achieve, knowing what you can afford is essential to identifying what opportunities you should be considering. Unless you have other assets to secure a loan, you will probably need at least 50% of the purchase price in cash to borrow the balance. Read more here.
For many people new to the pub trade the differences between freehold, leasehold or tenancy agreements can be confusing. However, the decision on which to consider usually comes down to what you can afford and what opportunities are available. Click here to read the differences between the three forms of tenure.
Getting a mortgage that allows you to buy a freehold or leasehold pub involves a number of different steps to those required to finance a house purchase. Whilst many banks will consider your application for funding directly, a better option may be to consider contacting a specialist broker. You should ensure they are an accredited member of the National Association of Commercial Financial Brokers (NACFB) and are experienced in the Licensed Trade. Click here to read more.
With relatively few barriers to enter the trade, you could think becoming a publican is easy. There are, however, a number of key building blocks you must have in place to ensure you have the skills and understanding to make a success of being a licensee. The key is often getting the right advice and training to ensure you fully understand what you are taking on and that you can make it work as a profitable business. Click here to read more.
Whilst this will provide some insight, we fully understand that every purchase is unique. As such, Fleurets is focused on providing a personal service. We are here to help and deal with any queries you may have. Click here to get in touch or to find your nearest Fleurets office.