I'm looking into a career change and the possibility of buying a franchise. Does anyone have any recent experience of approaching the banks for financing a franchise?
Unfortunately all my savings are locked away in a pension and at 50 years of age I can't release any of the money. This means I would be looking at 100% finance. I have good equity in my house where the mortgage is 100k to a value 370K so would they lend against that?
Total startup cost including equipment, training and franchise is 35K.
Any advice is greatly appreciated.
Unfortunately all my savings are locked away in a pension and at 50 years of age I can't release any of the money. This means I would be looking at 100% finance. I have good equity in my house where the mortgage is 100k to a value 370K so would they lend against that?
Total startup cost including equipment, training and franchise is 35K.
Any advice is greatly appreciated.