Advice needed please..Buying a yard...business loans etc?

[Blizzard]

Peoplewho have thier own yard, ie as a business, did you get a normal mortgage for the yard, or did you get a business loan etc?

Speaking to financial advisor tomorrow about it but wondering if its possible to get a bigger mortgage to fund it if you produce business forcasts etc to show that you are going to make a profit?

Not really sure how to go about it all, so would love to hear what experiences other people have had.

There is a house on site too.

 

[reynold]

cheaper mortgage if you do the house than a business mortgage

only risk is that if the yard goes pear shaped you'd risk the house as well

investigate both possibilities but not just on amount/cost but on business risk and check out whether you should be a sole trader/limited company/whatever as well

 

[Blizzard]

Thanks, have an accountant now who is doing forcasts etc and plans to present to the bank.

 

[reynold]

sounds exciting

good luck !

and then you can come on here in a while and moan about all your awful liveries and what a pain they are ;-))

 

[StaceyTanglewood]

oh yuck then your'll have to pay tax to !!!!

i got a mortgage on my other house to fund building the stables !!