What you need to know about Leasehold Finance
Finding a source of finance to purchase the lease on businesses such as shops, pubs or restaurants can be a major problem for you. This is particularly so if you have no previous experience. For example:
- What length of lease do we need, and can I negotiate that?
- What length of lease is acceptable to Lenders? Some will not even consider offering a loan unless that lease runs for a minimum of 50 years, and in some cases 99 years.
- What break clauses, notice of termination are available?
- What about refurbishment on termination? Who pays for what?
These are just some of the questions posed. Even if the length of the lease is OK, many Lenders will not consider loans to certain businesses. For example, Pubs, clubs or restaurants may not be “flavour of the month” at certain times. Your options may therefore become very limited.
This is where it is advisable to call us at Business Finance Services
We can help you both in finding a suitable Lender and in formulating a successful application. Simply call us on 0800 093 5240 or e-mail us at email@example.com. Alternatively complete this enquiry form and we will get back to you.