Busy doing our final sums now as our home is almost sold but just need to be sure we havent overlooked a major expense!
Please can someone confirm:
Do you have to pay VAT on the actual freehold purchase of the Pub? please say you dont because if you do we are doomed!! eg if the Pub costs 250k do we have to pay 17% Vat £43750 or am I just having nightmares for nothing!
We have gone direct to several high st banks for a roughly 60 to 70% loan to value commercial mortgage. plus talked to a few brokers but put off by brokers fees in addition to lenders fee's.
banks all seem to keen to lend to us but would we really get a better deal with a broker?
As far as fees go we have budgeted for:
1% lenders arrangement fee0.5% lenders legal feestamp duty 1% if below 250K lenders survey fee around £1000
Anyone any idea on costs to pay a solicitor to act for us on purchase?
Purchase of stock on taking over £4000??
Cost of licence etc
Capital to hand to see us through first few months £8000?
Any huge costs that we have overlooked?
sorry to be lengthy, the advice we have received on here from ken etc has been invaluable in fact we would never have progressed at all without it!
Huge ThanksJane Hammillps ken said the Nat Cert for Licensee's eam would be really simple well it might be for those in the trade but for a total beginner it as one hell of a task but glad to report I passed!!
Jane Hammill