- Original Poster
- #1
Not sure if this is the best place to post.
My wife and I would like to start a cattery, but I'm a bit puzzled by how I could raise the finance. We're looking to buy a house with enough land to put the cattery in. With the plan that cattery revenue would cover the loans for the house and business.
I'm guessing that a mixture of a mortgage and business loan would be needed, but how does that work in terms of taking into expected revenue as opposed to current salary etc?
Without going into detail on figures, which I can do if needed, the capital input would be 30% of the property value with an additional £50K for the business.
Some basic calculations suggest that the expected revenue would cover a 15 year repayment mortgage at 7%. Leaving my salary, or revenue from my embryonic business, to cover everything else.
Am I being stupid..
Mark
My wife and I would like to start a cattery, but I'm a bit puzzled by how I could raise the finance. We're looking to buy a house with enough land to put the cattery in. With the plan that cattery revenue would cover the loans for the house and business.
I'm guessing that a mixture of a mortgage and business loan would be needed, but how does that work in terms of taking into expected revenue as opposed to current salary etc?
Without going into detail on figures, which I can do if needed, the capital input would be 30% of the property value with an additional £50K for the business.
Some basic calculations suggest that the expected revenue would cover a 15 year repayment mortgage at 7%. Leaving my salary, or revenue from my embryonic business, to cover everything else.
Am I being stupid..
Mark
