We can help you finance a bed and breakfast property!
- Borrow up to 90% of the property value if the property can be used as a standard home.
- Borrow up to 80% if you’re relying on income from the B&B.
- Long terms, interest only, low doc options and residential interest rates available. Conditions apply.
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Our award-winning mortgage brokers will find you the right home loan for your situation.
Are banks conservative when it comes to B&Bs?
Most banks and lenders consider bed and breakfast properties a high risk because they want to know they can easily sell your property in the event that you default on your mortgage.
The success of the B&B comes down to you as the borrower so if the B&B is for income-producing purposes, banks will be concerned that you may be planning to leave your job to run the business full-time.
The chances of you defaulting increases so the banks want to reduce their risk by asking for a larger deposit!
Can I get standard interest rates?
Buying a B&B can be a grey area because, technically speaking, it is not a residential property.
If you are borrowing more than 80% of the property value, Lenders Mortgage Insurance (LMI) is required and you would be declined by most lenders.
This is because the LMI provider might consider you reliant on income from the purchase of a business. In this case, will need to seek a commercial loan which means that you will need a larger deposit.
If you’re currently employed and can show that you’re not reliant on your new business, we can get you a lower interest rate with a smaller deposit.
What documents do I need to provide?
We can help you secure your loan with no deposit if you have a guarantor. In this way you can borrow up to 105% of the purchase price with some of our lenders!
We’ve lent more than $1 billion+ Australia-wide.
They walked us through the process step by step
We would like to say thank you to Hank from Home Loan Experts for all his help in getting us a guarantor loan.
We were really unsure if we would ever get an approval for a home loan, but Hank immediately knew the right lender to approach for our situation, and made the whole process simple…
We would definitely recommend Home Loan Experts to anyone. Thanks again to Hank and the team from Home Loan Experts for making it possible for us to own our first home.
Ianthe S & Jadobi l, Carina QLD
A very friendly, professional and helpful team
The team was very friendly, professional, helpful and went out of their way to get the right loan that was suitable for us… I recommend this service for those who find it very hard to purchase a property going directly to a bank. Thank you Home Loan Experts, you have finally given my family and me the opportunity to own a beautiful home.
Denise H, Epping VIC
A lot smoother and less stressful than having to deal with banks as an individual
Our mortgage broker was very personable and made us feel like he went above and beyond to assist us in getting our home loan. He had a great knowledge of guarantor home loans which set our minds at ease. He was happy to answer any questions even outside business hours and responded in a professional and timely manner. As a second home buyer I would recommend going through the home loan experts as this process was a lot smoother and less stressful than having to deal with banks as an individual. I would especially recommend Hoa to others.
Melissa H & Rhys B, Wynnum West QLD
Exceeded my expectations in terms of results
Throughout the process I felt confident in knowing I could rely on you and at no stage did I ever feel that trust could be an issue with you. You have exceeded my expectations in terms of results and have done this with very short notice. You are an asset to your company and a role model to your profession… I already have and will continue to recommend your services to friends and family.
Thomas M & Tanya W, Botany NSW
So easy to speak to no matter how stressful the situation
We are both so grateful to Amine for all of his hard work and great advice over the past year! It’s been such a long journey… We are starting to settle into our new home in Trentham now. It is just so beautiful and relaxing! We really love it and are so happy with our purchase. Amine was right all along – things happen for a reason! Thank you Amine for always being there for us.
Tanya & Andrew B, West Melbourne VIC
He even made a guarantor loan from our parents seem effortless!
After the roller coaster ride of going cap in hand to the bank manager, only to be turned away… we found Tony. What a refreshing change! Within a 2 week time frame, we had approval and were able to follow the normal approval process to get the loan…. With Tony’s inside knowledge on how lenders think he was able to approach the bank with an excellent case and really put us in a great position in the lender’s eyes…. We recommend Tony and Home Loan Experts strongly and will be using them for our next purchase…
Julie W & Luisa C, Waikiki WA