Once derided as old-fashioned, it seems UK guest houses are beating the competition once again. Earlier this year, a Dorset B&B was named the best in the world in Trip Advisor’s annual Travellers’ Choice Awards. Bindon Bottom, a five-room bed and breakfast in Dorset, took the top spot, fighting off stiff competition from establishments in leading destinations such as California and Thailand.
Fourteen UK guest houses appeared in the travel sites top 25 global list, with the All Seasons Guest House in Filey, North Yorkshire, taking second place. The B&Bâ€™s listed were rated on a range of criteria including:
This is great news for established UK guest houses, but also for those who are thinking about opening a guest house in the near future. The positive reputation means tourists from around the world are more likely to visit and spend time in local B&Bs than ever before.
Specialist Mortgages for guest houses
However, setting up a B&B requires significant investment in terms of time and money. Guest house finance can be hard to come by without expert help, which is where a company like Stewart Hindley & Partners comes in. Experts in providing specialist mortgage advice, Stewart Hindley & Partners can help you get your guest house up and running with minimal inconvenience and expenditure.
While successful bed and breakfasts can make around Â£100,000 a year, new start-ups can take time to get off the ground. Buying a guest house can cost anything between Â£50,000 and Â£5 million, plus staff wages, utilities, insurance and all the other costs involved in running the business, so you will also need to budget carefully, taking off-peak seasons into account.
If you would like to research your guest house mortgage options, contact Stewart Hindley & Partners today.