baza31
Member
Registered: 19th Apr 03
Location: yorkshire
User status: Offline
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theres a boozer up for sale, could be a little goldmine even in this recession. Its now for sale with livin accomodation. The pub will be about 180k , i will need 140k lending and have 40k to put down. What are they like lending for business/domestic mortgages? i will be able to rent the pub for 500 a week, rent the apartment for 80-100 a week. then there is the function room which i would have nights on my mates a good dj and has loads of followers when he puts nights on. Then obviously i would earn the money on the beer for the funtion room. I can probably afford £1100 a month to pay to bank.
what do they normally lend is it 5x wage?
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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Will be totally different in this circumstance tbh, won't go on your wage but will go on income from the rent/pub as your effectively suggesting a buy to let.
Can you not just steal some more off your family and buy it out right?
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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My dad has run a boozer before, its not that simple im afraid. Do some more reading on line, they wont give you a mortgage to LET the place out just like that, Also theres lots of fee's ref puplic liability etc... all on top.
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