You are here: Commercial Mortgages > Hotel and Restaurant

Hotel and Restaurant

Updated: 14th February 2007 (PM)

For: Hotel & Restaurant in a busy Market Town, North Wales
Location: North Wales
Amount: £250,000

The client was seeking funds to extend the Restaurant where demand was very strong.

Existing bankers were not being overly helpful; there had been a recent change in Manager and the new incumbent seemed cautious.

Sterling arranged a mortgage of £250,000 to repay existing borrowings and cover the extension costs.
A 15-year repayment facility was agreed at bank base rate plus margin 2%.