Pictured above: Roger Dewsbery, senior underwriter, Crystal Mortgages

A substantial increase in public house deals has been reported by leading independent commercial finance specialist Crystal Mortgages - with better quality properties cited as a key factor.

Compared to the first quarter of 2010, the company has doubled the number of public house properties for which it has provided new mortgages, representing an increase of more than £1 million in lending.

Roger Dewsbery, senior underwriter at Crystal Mortgages, said: "There are approximately 25 pubs shutting per week, and while in the early days of the recession these were businesses that were already struggling, there are now attractive, proven sites available at very reasonable prices.

"Experienced pub operators have clearly identifying that much improved business opportunities are emerging, moving quickly to secure deals and looking for the best mortgages available. It is a part of a generally improved picture that we have witnessed for business properties in 2011."

Crystal Mortgage's Public House products are available for prime, near-prime and start-up applicants from only 3.05% over the Bank of England base rate. Borrowers can apply for £20,000 upwards over a period of seven to 30 years up to a maximum loan-to-value of 60%. 

Dewsbery concluded: "Margins in the hospitality sector are generally low, so having the right mortgage in place can be the difference between business success and failure for pub entrepreneurs."

For more information on Crystal Mortgages and their full range of mortgage, bridging and development products, applicants can call 01922 722008.