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I am considering a franchise option. My question is this. We currently rent a property, but would ideally be aiming to buy a house within the next 12 months. Will a mortgage lender recognise a franchise as a salary, as it would a standard job? I have heard stories in the current climate about banks not giving mortgages to borrowers who run their own businesses, and I want to know if being a franchisee would fall into this caveat too?
Answered by: Vanessa Wheeler
All lenders take a different approach with this and I don't think that there will be a one rule fits all. Lots of factors will be relevant eg deposit, credit…
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I have been looking a various 'work-from-home' opportunities for a little while. I came across a franchise over the weekend and have got myself rather excited about taking serious steps into signing the dotted line. I don't know much about franchises other than the fact that it's usually a well established company/ business and has completed a business plan, but does a franchise have to be registered with the British Franchise Association? And what protections, if any, do I get as the franchisee if they are not registered? View full answer >
Answered by: Tom Endean
Answered by: Tom Endean
I already run a franchise and this is going quite well, but I also have an interest in music and have seen a franchise opportunity for teaching music to toddlers. Can I own more than one franchise? View full answer >
Answered by: Tom Endean
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