Bed & Breakfasts : Recovering From The Damage Caused By Mis-Sold Fixed Interest Rate Loans

May 13, 2015 - PRLog -- Few sectors of the economy have been hit as hard by the mis-selling of fixed interest rate loans as those businesses that operate in the leisure industry, particularly guest houses and bed & breakfasts. These businesses previously enjoyed stability in costs due to a fixed rate of interest on loans, but in many cases this was undone by the harsh and undisclosed clauses locked into the loans. Whilst the banks are being held to account in the law courts for their actions, particularly with respect to the high costs imposed for break clauses and charges made for businesses making an earlier than agreed settlement, many guest houses require refinancing in the here and now to be able to carry on. Stewart Hindley & Partners LLP are at the forefront of assisting these businesses.

Whilst there is a great deal of sympathy towards owners of guest houses and bed & breakfasts that have been negatively affected by mis-sold fixed interest rate loans, traditional approaches towards seeking refinancing are often met with failure. Despite the business appearing to be sound and in good order, both in operation and from a strategic perspective, the fiscal penalties imposed means that many financial institutions view them as "toxic borrowers". It is important for these business owners to connect to lenders that understand the practical realities of the situation and, as a consequence, appreciate their value as a fit and proper borrower.

As brokers with a specialist knowledge in the sector, Stewart Hindley & Partners LLP are able to successfully connect those seeking guest house or bed & breakfast finance with lenders who appreciate and understand how the industry works and which critical factors are required for success. This understanding allows for insights beyond the current problems and legal issues surrounding mis-sold fixed interest rate loans. The expertise and knowledge of Stewart Hindley can be called on to create a valid, sustainable business plan that lenders will respond to positively.

Business owners who were negatively affected by banks which mis-sold fixed interest rate loans to them should not be exposed to a perpetual level of punishment. Valid, sound businesses should certainly not be allowed to fold or fail as a consequence either. Stewart Hindley & Partners LLP are committed to ensuring that guest houses and bed & breakfasts which have been adversely and unfairly affected by bank mis-selling can access the refinancing and mortgages they require. Their broker services work towards achieving a level of debt forgiveness  as well as obtaining financing at the most competitive rate possible.

The guest houses and bed & breakfast businesses of the UK are a vital part of the national economy. Whereas they often achieve great success, from time to time some require refinancing to ensure business continuity and sustainable growth. Stewart Hindley & Partners LLP are committed to ensuring that these businesses have access to a fair and preferential deal.