Sidney Phillips Business Mortgages

"We can help you finance any business you decide to buy not just those sold by Sidney Phillips"

For friendly help and guidance please call on 01834 849795

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Buying a Pub without accounts?

A large proportion of the pubs we arrange finance for are being sold without the benefit of having any historic financial information yet offer fantastic opportunities to acquire valuable sites at what are considered bargain prices.

Many of the larger PubCos are going through a period of restructuring which has meant that they have identified hundreds of sites which do not fit their business model for the future.

In most cases these are site which were previously leased to tenants often at rents which were unsustainable and when coupled with having to buy beer from the PubCo meant that the site wasn’t viable for the tenant.

However trading free of tie and with current low borrowing costs these sites are extremely viable in the hands of freehold operators.

We have several discussions a day with would be purchasers many of whom have gone to their Bank only to be told that they require three years accounts before the Bank can consider the proposal.  As the PubCos were not the operators the accounts are not available.

So how do we get around this?

We work with key managers in prime lending institutions who are proactive when it comes to the licensed trade sector and importantly who understand the trade.

The lending is all about potential. The potential of the pub to trade at a good level of turnover and your potential to turn the business into a viable venture.

We pay close attention to preparation before submitting any proposal. A business plan is a must (we will help with this) to identify what market you intend to go for, how any refurbishment or improvements are going to be funded, what the competitors are up to and what staffing is going to be required.

We will prepare for you, two years financial projections to support the proposal but crucially ensuring these meet the lenders criteria when forecasting margins and net profit levels.

The key element however is you and this will determine the levels of borrowing that may be made available.

For those than can prove a successful background in the trade then up to 70% funding is realistic. For those with lesser experience then 50% - 60% will be the norm.

Repayment terms are up to 20 years and importantly the average interest rate currently being achieved is just 2.3% above Bank of England Base.

Please note that where VAT applies to the purchase price it is usually possible for us to arrange a 100% VAT loan until the VAT can be reclaimed.

Please feel free to call us to discuss your proposed purchase and to ensure you get the best possible start to your new venture.

For friendly help and guidance
please call on 01834 849795

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Looking to buy another type of business?

See our partner site Business Mortgage Solutions for help and guidance on funding for all commercial and retail businesses.

Business Mortgage Solutions T/A Sidney Phillips Business Mortgages, is authorised and regulated by the Financial Conduct Authority. Our Firm Reference number is 734594. Not all types of business we undertake is authorised and regulated by the Financial Conduct Authority. Sidney Phillips Business Mortgages operates as an intermediary and is not a principal lender.

Established 1986 - Terms & Conditions

The National Association of Commercial Finance Brokers

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