Five top British holiday destinations

Millions of people pass through the UK’s airports every week, heading overseas in search of a holiday paradise. What many don’t realise, is that you can find some pretty special locations without leaving the country; staying in some incredible B&Bs and guesthouses, the like of which you don’t find elsewhere.

The UK possesses some of the world’s most stunning scenery, impressive natural landscapes and fascinating historical landmarks. You can enjoy the summer sun in seaside resort on England’s south coast, or ramble through rolling hills in the Scottish Highlands. You’ve plenty of castles to explore in Wales, and a chance to trek mountains in Northern Ireland.

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The pitfalls of trading a B&B on a residential mortgage

Opening your own B&B is a life-changing experience, one that can be a dream come true. Providing you observe the rules around trading, that is. One of the most common and most costly mistakes made by new-to-trade owners is operating on a residential mortgage when they should have a commercial mortgage for their B&B. It’s something we’ve seen and dealt with frequently; a pitfall which can put people in a very difficult situation.

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How to finance a bed and breakfast: your questions answered

Owning a bed and breakfast is one of the most commonly held life goals; the dream of those who long for a better quality of life and the chance to be their own boss. Who could want for more?

Securing the mortgage for a B&B purchase is rarely easy, but it’s certainly not impossible – our case studies are proof of that. If you’ve been asking yourself: “How do I finance a B&B?”, the following insight might help.

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Why owning a B&B can be a dream come true

Fed up with your stressful city job? Approaching or beginning your retirement? Or maybe you’re just a dreamer who wants to ditch the day job and start working for yourself? Well, if this sounds like you, then you’re far from being alone and as such, you might be interested to learn that there’s one route which increasing numbers of people are opting for: buying their own bed and breakfast.

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Getting a Commercial Mortgage is not always easy!

We were instructed by a client in East Sussex who had been with her bank for over 40 years. She purchased a house in a popular tourist town close to Brighton in East Sussex with a regular residential mortgage but after moving in she decided to let out two of her three bedrooms as B&B accommodation.  She traded well and paid her mortgage every month, unfortunately the bank then realised she was trading the business and as her mortgage was not a commercial one they called in her loan due to a breach of covenant.

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