Can only borrow 50%

[Wolf]

Sambo, listen to Joy.

A good accountant will soon be telling you of the risks involved in buying a post office in this electronic age, salary or not. Nothing is guaranteed for ever.

As more pensions are sent direct to banks, benefit giro's are replaced with bank accounts, and even stamps will probably disappear on deregulation of the post office monopoly (you can already book couriers over the web and normal post will soon follow), I'd be looking very hard at where your next 10 years income was coming from? If the B&B will support you even if the post office closes then fine. But will that be the case?

Also, watch the Disability Discrimination Act doesn't impose large costs on alteration of the building for commercial use (for either business) if its already run down and doesn't have the basics required. You will be a service provider and need to know your obligations beforehand so you can budget for capital requirements accordingly.

Phil

[Sambo]

The B&B is stuck in the 70's/80's. It needs completly redecorating- wallpaper and carpeting, plus a new kitchen and bathroom (the bath suite is BLUE). It would cost a lot to do all of this but we were hoping once it was modernised then more people would want to come and stay. One problem is the village it is in is tiny, and has at least 5 other B&B's (one right next door) so there would be a lot of compettion

We were talking about it last night and have decided that because there is a lot of work needing doing to it, we will be better off finding something else.