The Pub Mortgage - Commercial Mortgages

The Pub is an institution and an endearing trait of the British way of life; whether a village local or the popular city spot; it is a staple of the nation. Commercially however, the pub is considered a ?risky business? for which mortgage, re-mortgaging and further loans can often be difficult to obtain.

If setting up a pub or facing financial difficulty and in need of a refinancing; a commercial mortgage is considered the most viable option but what does the process involve?

Why a Commercial Mortgage?

As a long term financial agreement; a commercial mortgage is an ideal form of business financing that will provide a great deal of stability within an already unstable economy.

Whether taking over new or existing premises, a mortgage, remortgage or any other financial aid; the traditional pub model originally required breweries to directly supply finance however, in the face of a changing business model; external sources are now sought and as a result the commercial mortgage broker is considered the ideal source for pub financing.

For those seeking to set up or continue the success of a pub; the commercial mortgage broker offers commercial mortgage and remortgage opportunities that can ensure the following:

• Cash injection used to cover any cash flow issues
• Cash injection used to assist with any debt
• Fixed monthly payments (ideal for cash flow management and steady growth)
• Increased profit
• End result of property ownership

The Complexities of a Pub Mortgage

The type of lending available, the restrictions you face and the requirements of the lender will all be dependent upon the commercial situation.

When considering your lending capabilities and the financial options which may be made available to you, the commercial mortgage broker will often consider a range of issues surrounding the business and the lender:

• The location of the public house
• Reasons for failure, if an existing public house
• Business history/ Business predictions
• Details of income and business finance for the previous three years
• Percentage of business deposit (if required)
• Equity (Additional Security)
• Business plans
• Personal financial documentation for the past three months
• Personal industry experience

The above are considered the main issues analysed by all lenders, when determining lending capability however, the pivotal points that lenders must consider when applying for commercial finance are:

1. Do you have enough experience within the industry? Have you achieved previous success that can be proven? Previous experience is crucial. As a specialist industry it is vital that a borrower prove their worth as a lending candidate.
2. What is the LTV rate of the mortgage? The lower the ratio, the more desirable a candidate is for a low interest rate mortgage.
3. Will the business be in a position to securely meet all repayments? Default is not uncommon in today?s market which is why business plans and projections are required to determine future, commercial capability.

A commercial mortgage broker will assist in helping you provide sufficient evidence and strong enough support, that will work towards securing your financial requirements.

The Types of Pub Mortgage

Although obtaining financial aid is continuingly difficult and banking rejection remains at a high; the commercial mortgage broker will scour a variety of specialist lenders to secure the right finance for your business.

Fixed Term- This mortgage type will ensure all payments are fixed, saving your business from facing costly changes and the effects of rising interest rates. This mortgage is considered conventional for a Public House.

Variable Rate- This mortgage offers initial lower interest rates, followed by fixed rates. As the result of changing payments and subjectivity to fluctuating rates; this specific mortgage may be considered too risky for a Public House.

Interest Only- This mortgage will allow the lender to initially pay off the interest before moving to overall mortgage payments. The risk level here again may be considered too high for a Public House however, a commercial broker will advise you of the best move to make.

Why a Mortgage Broker?

With varying lending models available; business owners may find themselves asking; why do I need a commercial mortgage broker?

As the alternative lender, the commercial mortgage broker is an intermediary working on part of a business to determine the ideal financial solution.

• Proven experience on Pub mortgages
• Can offer a potential 100% of valued sum
• Possess long term knowledge of the industry
• Access to specialist, industry specific lenders
• Assistance and support throughout the process

Where Can I Find the Right Mortgage Broker?

There are a range of specialist alternative lenders on the market however, when seeking a pub mortgage it is vital to ensure that you research your options thoroughly.

When sourcing a commercial mortgage broker for a pub, ask yourself the following:

• How experienced is the broker?
• Does the broker specialise in pub mortgages?
• Does the broker have proven success within the industry?
• Are alternative lending options available?

What to look for when seeking a pub mortgage?

As a risky industry, it is wise that when considering financial aid for a public house; you remain aware of anything and everything entailed within the process:

• Know your limits- Are you borrowing the right sum? How confident are you that your business will be in a position to return the investment?
• Compare- Have you researched the commercial mortgage broker industry and compared services?
• Loans and Fees- How much clarity do you have on the loan and the fees you will be facing?
• Risks- Do you know just what risks you are facing?

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If seeking a commercial mortgage or remortgage, just how aware are you of the process, the risks and the hurdles you may face?

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Source: http://www.charlestonfinancial.co.uk/the-pub-mortgage/

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Sea turtles stranded in Cape Cod's cold water airlifted to Florida

MIAMI -- Call them snow-birds of the four-flippered variety.

The Coast Guard on Friday airlifted to Florida 35 endangered sea turtles that got caught up in cold water off Cape Cod, Mass., and suffered hypothermia.

Now in balmier climes, they get medical checkups and rehabilitation, if necessary, before release for a hopefully healthy migration cruising the Caribbean.

Environmentalists turned to the Coast Guard for help when dozens of turtles were stranded in cold weather, said Tony LaCasse of the New England Aquarium, which crammed the hold of an HC-130 "Hercules" cargo plane with 35 boxed and blanketed Loggerhead and Kemp's Ridley turtles for Friday morning's flight.

"They're being distributed to five different marine rescue centers," he said, noting that "even New Englanders are little surprised that we have sea turtles. They're supposed to be summertime-only visitors."

But this year, the aquarium has been grappling with a record 150-plus strandings of mostly young turtles inside Cape Cod's hook. Rather than swim north and around Provincetown for the annual migration, they followed their instincts to swim south, and got stuck. Volunteers of the Massachusetts Audubon Society saved them - malnourished and hypothermic - and turned them over to the aquarium's rescue facilities.

By Friday the first 35 were deemed healthy enough for the Coast Guard airlift to Orlando, Fla., for distribution to five different sites.

"It's exciting. We're getting ready for the 'snow turtles,' as I like to call them," said Nadine Slimak at the Mote Marine Lab in Sarasota, Fla., whose animal hospital took three Loggerheads that weighed in at 30 to 70 pounds. Staffers there named them "Cindy," "Lou" and "Stu" - names borrowed from Dr. Seuss' "How The Grinch Stole Christmas!"

SeaWorld in Orlando was taking 20 of the young Kemp's Ridleys, a smaller species, that weigh 2 to 12 pounds, said LaCasse. The remaining 15 Loggerheads were being distributed among Mote, Tampa's Florida Aquarium, Volusia's Marine Science Center and the Loggerhead Marinelife Center in Juno Beach for care that could take months.

"Once they're healthy and not showing any kind of medical conditions or any other problems, they are released off the east coast of Florida," said Slimak. "Some of the turtles end up in Cuba or the Caribbean."

The Kemp's Ridleys mostly end up in the Gulf of Mexico.

Those that don't fully recover effectively retire - sometimes in Florida - or are sent to other aquariums across the United States.

In Boston, LaCasse said, environmentalists in other years had used a network of private plane owners from Long Island to Maine to shuttle three or four turtles at a time to Florida, as they headed to vacation. There were so many turtles this year, he said, that NOAA's Fisheries division arranged for the Coast Guard to collect them as part of a pilot's routine training mission.

Source: http://www.miamiherald.com/2012/12/07/3132188/sea-turtles-stranded-in-cape-cods.html

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Little Ladybug Guest Dessert Feature ? SWEET DESIGNS ? AMY ...

We are back with another great party from down under. Gerri and Carole from Little Birdie Events?styled a garden themed dessert table for their client?s daughter?s first birthday party. They used a pink, mint green and sunshine yellow color palette. Sweet treats included ?garden? macarons, ladybug lollipops, rhubarb & custard bon bons,?sugar cookies with edible image ladybugs and ombre pink cupcakes. Scroll down for the vendor credits.

Photography by Little Birdie Events.

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VENDOR CREDITS:

Concept, design, styling: Little Birdie Events Food and drink labels, personalised chocolate stickers: Little Birdie Events Printable bunting and sign: Fairydust Stylish Stationery
Cupcakes: The Cupcake Parlour
Cake: Cakes by Judy C
Macarons: Marche du Macaron
Cake: Crumbs of Comfort Strawberries & Cream Lollipops: Sweet Style

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Source: http://blog.amyatlas.com/2012/12/06/little-ladybug-guest-dessert-feature-2/

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Chinese Quatrains (The Woman in Tomb 44) by Marilyn Chin

The aeroplane is shaped like a bird

Or a giant mechanical penis

My father escorts my mother

From girlhood to unhappiness

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A dragonfly has iridescent wings

Shorn, it?s a lowly pismire

Plucked of arms and legs

A throbbing red pepperpod

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Baby, she?s a girl

Pinkly propped as a doll

Baby, she?s a pearl

An ulcer in the oyster of God

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Cry little baby clam cry

The steam has opened your eyes

Your secret darkly hidden

The razor is sharpening the knife

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Abandoned taro-leaf boat

Its lonely black sail broken

The corpses are fat and bejeweled

The hull is thoroughly rotten

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The worm has entered the ear

And out the nose of my father

Cleaned the pelvis of my mother

And ringed around her fingerbone

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One child beats a bedpan

One beats a fishhook out of wire

One beats his half sister on the head

Oh, teach us to fish and love

?

Don?t say her boudoir is too narrow

She could sleep but in one cold bed

Don?t say you own many horses

We escaped on her skinny mare?s back

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Man is good said Meng-Tzu

We must cultivate their natures

Man is evil said Hsun-Tzu

There?s a worm in the human heart

?

He gleaned a beaded purse from Hong Kong

He procured an oval fan from Taiwan

She married him for a green card

He abandoned her for a blonde

?

My grandmother is calling her goslings

My mother is summoning her hens

The sun has vanished into the ocean

The moon has drowned in the fen

?

Discs of jade for her eyelids

A lozenge of pearl for her throat

Lapis and kudzu in her nostrils

They will rob her again and again

Source: http://feeds.poetryfoundation.org/~r/PoetryFoundation/PoemOfTheDayText/~3/GXTohzdp0Ns/244500

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Russia threatens to respond tit-for-tat to US bill

MOSCOW (AP) ? Russia has strongly criticized U.S. legislation that calls for sanctions against Russian officials accused of human rights abuses and warned that it will respond in kind. A leading anti-corruption crusader, however, hailed the bill as "pro-Russian."

The bill is primarily intended to end Cold War-era trade restrictions and was hailed by U.S. businesses worried about falling behind in the race to win shares of Russia's more open market, but its human rights part has outraged the Kremlin.

The measure, dubbed the Magnitsky act, is named for Russian lawyer Sergei Magnitsky, who was arrested by officials he accused of a $230-million tax fraud. He was severely beaten, repeatedly denied medical treatment and died after almost a year in jail in 2009. Russian rights groups accused the Kremlin of failing to prosecute those responsible, while independent media claimed that such tax frauds are widespread.

Russia's Foreign Ministry responded to the U.S. Senate vote late Thursday by calling it a "show in the theater of the absurd." It warned that Russia will respond to the new legislation in kind, adding that the U.S. will have to take the blame for the worsening of U.S.-Russian ties.

"Probably people in Washington forgot what year it is and are thinking that the Cold War isn't over yet," the ministry said in a statement adding that "it's weird and strange to hear human rights-related complaints against us from the politicians of a country where torture and abductions of people all over the world were legitimized in the 21st century."

Foreign Minister Sergey Lavrov told Russian media that "we will ban entry (to Russia) to Americans that are in fact guilty of violating human rights" in Afghanistan, Iraq, Libya and other nations. Speaking in Dublin late Thursday after a meeting with Secretary of State Hillary Rodham Clinton, he reportedly said that he informed her about the possible bans.

Russia's leading anti-corruption whistleblower and opposition leader Alexei Navalny wrote in his blog Friday that "the Magnitsky act is absolutely pro-Russian. It is aimed at scoundrels that stole 5.4 billion rubles, laundered it abroad and then tortured and killed a Russian citizen."

Sergei Alexashenko, an economist who was a deputy chief of Russia's Central Bank, said on Ekho Moskvy radio late Thursday that despite the angry official rhetoric, the Kremlin would be unlikely to take strong anti-U.S. action for fear of causing an even bigger strain in relations

The Russian Foreign Ministry also claimed that the new legislation is driven by a "revengeful desire to settle scores" with Russia for its stance on international issues.

Russia and the United States have clashed on Syria, with Washington accusing Moscow of propping up Bashar Assad's regime despite its bloody crackdown on an uprising that began in March 2011. According to anti-government activists, more than 36,000 Syrians have been killed.

Russia and China have used their veto power at the United Nations Security Council three times already to block sanctions against Assad's government. Moscow also has continued to ship weapons to Assad, shrugging off Western protests.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-12-07-Russia-US-Trade/id-c59074326db44d029e943012ef11353f

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ekathimerini.com | Store rental rates set to keep falling in 2013

Store rental rates set to keep falling in 2013

By Nikos Roussanoglou

Commercial rental rates will continue to decline in central Athens next year and the number of empty stores will increase as retail turnover keeps falling and consumer purchasing power of consumers slides ever lower, a property service professional has told Kathimerini.

?Over the course of the next 12 months rents in the popular commercial districts will see a further decline while lease rates at shopping centers will remain stable,? stated Dimitris Voutsas, director of the retail trade service division for Greece and Albania at Colliers International Greece.

The real estate company official added that malls retain the top spot in the preference of foreign as well as local retail chains as they offer a safer environment compared with high streets.

Regarding the extent of the decline in commercial rents next year, few market professionals are willing to make any forecasts, instead saying there are a number of factors that will determine developments. Officials at one real estate service firm told Kathimerini that if there is a visible improvement in retail trade conditions in the second half of 2013, the rental rate drop may be contained or even stop.

Nevertheless, when a rebound does finally take place, the high number of empty stores is expected to hamper the rise in rates as the options that retail chains will have will be multiplied compared with the pre-crisis period, when competition for high-exposure spots was fierce.

The drop in rental rates for high-street locations is expected to reach 15 or even 20 percent by the end of this year. However, when one factors in stores located in shopping malls, the average drop is far smaller. Data presented recently by Georgios Papaioannou, vice president and chief executive of Piraeus Real Estate, showed that this year the average drop in store rents ? including mall outlets ? will amount to 9.1 percent year-on-year.

Compared with the rate peak noted in 2007, the slide in rents for commercial spaces has reached 53.1 percent. The country?s most popular shopping street, Ermou Street in central Athens, is a case in point, as it has seen its average rate slashed from 300-350 euros per square meter before the financial crisis to just 170 euros/sq.m. today.

Source: http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_05/12/2012_473162

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Northeast U.S. sees second driest November in more than a century

ScienceDaily (Dec. 5, 2012) ? Even though Hurricane Sandy helped create wet start to the month for several states, November 2012 went into the record books as the second-driest November since 1895 in the Northeast. With an average of 1.04 inches or precipitation, the region received only 27 percent of its normal level.

The record driest November was 1917 when the Northeast received only 0.88 inches of precipitation.

All states were drier than average. Departures ranged from 16 percent of normal in Connecticut, their second-driest November, to 37 percent of normal in New Jersey, their 11th driest. Of the remaining states, New Hampshire, Vermont and West Virginia had their second-driest November; Delaware, Maine, Maryland and New York had their third driest. Pennsylvania, Rhode Island and Massachusetts also ranked in the top 10 driest Novembers.

Overall for autumn, the Northeast was slightly drier than average with 11.36 inches of precipitation (98 percent of normal). The region was split down the middle with half of the states drier and half the states wetter than normal. Connecticut took the title of driest state with only 78 percent of normal, while Delaware led the wet states with 120 percent of normal.

The latest U.S. Drought Monitor, issued Nov. 27, indicated abnormal dryness continued in upstate New York while a new area of abnormal dryness popped up near the Vermont-New Hampshire border and in central-southern West Virginia.

In addition to being dry, the Northeast was cooler than normal for November -- in spite of a brief mind-month warmup. With an average temperature of 37.2 degrees, it was 2.5 degrees cooler than normal and was the coolest November since 1997. All states reported below average temperatures for the first time since October 2009. West Virginia and Maine were the coolest at 4.1 degrees below average. Departures for the rest of the states ranged from 4 degrees below normal in New Jersey to 0.9 degrees below normal in Vermont.

Autumn's overall average temperature of 50 degrees was average for November in the Northeast. West Virginia was the coolest at 1.6 degrees below average for the season. Of the warm states, Vermont was the warmest at 1.1 degrees above average.

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Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/~3/Ynp5_QmrnJs/121205142325.htm

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