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Bed and Breakfast

Updated: 19th March 2007 (PM)

For:Bed and Breakfast Accommodation
Location:Mablethorpe
Amount:£215,000

Clients wanted to buy Bed and Breakfast accommodation in Mablethorpe, even though they did not have any experience in this sector and had been turned down by the 'High Street Banks'.

The family home was mortgaged by their daughter and this money was used as a deposit to buy the B & B.

Sterling then arranged a £215,000 mortgage which represented 85% LTV at base rate plus 5%, over a period of 30 years.