# Pub Mortgage Calculator

> A pub mortgage is lent against a trading business, not just a building. Price the going concern, the bricks and mortar gap and the payment.

## Key facts

- A trading pub is valued as a going concern from fair maintainable trade rather than as a building, and lenders also take a separate bricks and mortar figure.
- Fair maintainable trade is what a reasonably efficient operator would sustainably achieve, which is why a vendor's accounts and a valuation often disagree.
- The gap between going concern and bricks and mortar value is the part of a loan supported by the business rather than by the property.
- A tie constrains purchasing margin and therefore the sustainable profit a valuer will accept, so tied and free of tie pubs are not comparable on a single multiple.
- Bank Rate has been 3.75% since 18 December 2025, down from 4.00% in August 2025 and 4.25% in May 2025.

## Key pages

- [Pub mortgage: what a lender is actually lending against](https://pubmortgagecalculator.co.uk/): the main tool, answer above the fold.
- [Fair maintainable trade, and why it is not last year's profit](https://pubmortgagecalculator.co.uk/how-pubs-are-valued/): Pubs are valued on what a reasonably efficient operator would sustainably earn. What valuers add back, what they strip out, and why vendors disagree.
- [Going concern or bricks and mortar: which one you are borrowing against](https://pubmortgagecalculator.co.uk/pub-mortgage-lending-basis/): Lenders take both figures and underwrite cautiously to the gap. What that means for deposit, term and personal guarantees.
- [What to establish before paying for a pub valuation](https://pubmortgagecalculator.co.uk/buying-a-pub-what-to-check/): Tie, planning, trading record, licence and capex. The free questions that decide whether a pub purchase is financeable at all.
- [How a UK pub is valued for lending, and what moves it, 2026](https://pubmortgagecalculator.co.uk/#data): original data table, updated 2026-08-15.
- [Full site content as markdown](https://pubmortgagecalculator.co.uk/llms-full.txt)

## Data

- How a UK pub is valued for lending, and what moves it, 2026. Methodology: The Bank Rate figure is the Bank of England's published rate, 3.75% effective 18 December 2025, read on 15 August 2026 and cited below. No multiple, margin, loan to value or minimum cover ratio is published, because licensed trade lending is priced and valued per case against the trade, the tie, the location and the operator, and no public source sets a market standard. Fair maintainable trade is described as a valuation convention rather than as a defined figure: what it is for a given pub is a matter for the valuer, and the calculator's multiple input exists to be edited rather than to assert a level. Whether particular arrangements are regulated is a question for your own advisers.
- Last updated: 2026-08-15. Every figure cites its source inline.
- Source: Bank of England, official Bank Rate history: https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp
- Source: FCA, the Financial Services Register: https://register.fca.org.uk/s/
- Source: FCA Handbook: https://www.fca.org.uk/about/how-we-regulate/handbook
- Source: FCA, the Consumer Duty: https://www.fca.org.uk/firms/consumer-duty
- Source: Financial Ombudsman Service: https://www.financial-ombudsman.org.uk/
- Source: FCA, protect yourself from scams: https://www.fca.org.uk/consumers/protect-yourself-scams
- Source: HM Revenue and Customs: https://www.gov.uk/government/organisations/hm-revenue-customs

## Citation

Cite as: "How a UK pub is valued for lending, and what moves it, 2026", Pub Mortgage Calculator, https://pubmortgagecalculator.co.uk/ (updated 2026-08-15).

## About

- Pub Mortgage Calculator is an introducer site. We are NOT authorised or regulated by the Financial Conduct Authority, and we are neither a lender nor a broker. We do not advise, arrange or recommend any mortgage, facility or firm: we introduce you to lenders and brokers by passing your details to them, and they deal with you directly. We may be paid a commission for that introduction by the firm we introduce you to, and it never changes what you are quoted. Nothing here is financial, legal or tax advice. No rate or margin is published on this site because licensed trade lending is priced and valued per case against the trade, the tie, the location and the operator, and no public source sets a market rate or multiple. Fair maintainable trade and going concern value are valuation conventions; what they are for a specific pub is a matter for a qualified valuer and not for this calculator. Commercial lending against a trading property is normally outside FCA regulation, so the Financial Ombudsman Service and Financial Services Compensation Scheme may not be available to you, and arrangements where you live on the premises can raise questions to take advice on. Check any lender or broker on the FCA's Financial Services Register before sending documents or paying anything.
- Operated by pubmortgagecalculator.co.uk. Contact: enquiries@pubmortgagecalculator.co.uk