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.
Continue reading “The pitfalls of trading a B&B on a residential mortgage”
