Acorn Licensed Trade Desk · Exclusive Freehold Buyout Programme
Turn your leased pub into a freehold asset. Use your trading history and 'married value' to reduce the deposit that high-street lenders ask for. Up to 100% with additional security.
Written by Paul Thompson, head of the Commercial Finance Team | Last reviewed: October 2026
Prefer to talk? 0207 959 3882
The Pub90 Advantage
Four reasons Pub90 can work where a high-street application does not.
High-street banks usually assess freeholds on vacant possession (VP) value and often ask for 25% to 35% cash. Pub90 uses the 'married value' of your existing business to fund up to 90% of the agreed price, or up to 100% with additional security.
Moving to a free-of-tie freehold removes brewery rent and tied-price markups, which can improve a pub's trading profit. The effect varies from pub to pub.
We underwrite your application using your actual Fair Maintainable Trade (FMT) and historical EBITDA, rather than treating you like an unproven startup buyer.
Stop your landlord selling the freehold under your feet to developers or competitors. Secure your business premises permanently.
The Science of 'Married Value'
When the lease and freehold merge in one ownership, the asset's value increases — and it is that higher figure lenders advance against, not the discounted price you agreed with the pubco.
Step 1
The landlord's freehold, subject to your lease, is valued purely as an investment yielding brewery rent — for example £400,000.
Step 2
Your lease is valued separately as an operational trading business — for example £50,000.
Step 3
When the sitting tenant buys the freehold, the lease merges with the freehold title. The combined unencumbered asset is now worth significantly more in hand — for example £550,000.
Step 4
Lenders advance 75% against the NEW Married Value (£412,500), which covers up to 90%–100% of the agreed £400,000 purchase price.
Case Study
Anonymised illustrative case study
Agreed Freehold Price
£450,000
Traditional Bank Deposit Required (25%)
£112,500
Client only had £45,000
Pub90 Advance Structured
£415,000
92% Gross Funding
Funding above 90% requires additional security. Terms vary by case.
Client Cash Required
£35,000
Post-Completion Free-of-Tie Profit Uplift
+£32,000 / year
The Result
Instead of losing the pub to a regional pubco, the publican completed the freehold acquisition in 6 weeks using Pub90. The immediate cancellation of the wet-tie more than covered the new commercial mortgage repayments.
We started out in 1997 as Acorn Commercial Finance, a broker that predominantly funded pubs. That experience gave us the confidence to take the scheme that became Pub90 (then 100% funding) to the board of Abbey Commercial Mortgages and secure an exclusive deal. In those days we did not think we were large enough to seek trade press coverage, so the coverage below, which began in 2008, came later. You may also know us as Publoans or Acorn4.
| Morning Advertiser
Acorn Commercial Finance said it had around 450 deals in negotiation with Punch, though movement on offers had been slow while valuations were agreed. Punch reported that 23 sales to tenants had completed.
Read the article: Punch sells 23 pubs to tenants (Morning Advertiser, 7 May 2009)| Morning Advertiser
Around 450 licensees had tabled bids for their Punch pubs through a single broker, Acorn Commercial Finance. Offers ranged from under £100,000 to well over £1m, with most around £500,000.
Read the article: Hundreds line up for Punch pubs (Morning Advertiser, 16 April 2009)| Morning Advertiser
Acorn Commercial Finance reported around 100 licensee enquiries and said it could conceivably fund around 60. Paul Thompson advised that offers without proof of funding were unlikely to be considered.
Read the article: Numbers grow in big Punch pub freehold sale (Morning Advertiser, 12 February 2009)| Morning Advertiser
When Punch offered around 500 leased pubs to its licensees first, Paul Thompson, then a partner at Acorn Commercial Finance, described the interest as "phenomenal", with about 30 calls on the first day back after Christmas.
Read the article: Tenants show huge interest in Punch freeholds (Morning Advertiser, 9 January 2009)| Morning Advertiser
Fleurets and Coffer Corporate Leisure teamed up to help pubco licensees buy their freeholds. Acorn.finance was named as the broker providing the finance, which the article said could reach up to 100%.
Read the article: Freeholds made easier (Morning Advertiser, 3 April 2008)Market conditions then were very different from today. These articles evidence our experience and are not indicative of current terms.
Buying a closed pub or a pubco disposal rather than as a sitting tenant? See our pub disposal finance page.
Interactive Tool
Model your married value, maximum funding, cash deposit and projected free-of-tie profit uplift from your pub's trading figures.
Tie Type
Structured at 90% of the agreed price — that is a cash deposit of just £45,000 (10%), versus a high-street demand of around £112,500 (25%).
Apply for Pub90 Pre-ApprovalIndicative illustration only. Married value is modelled from the tie profile of your lease and confirmed by an independent going-concern valuation; advances of up to 75% of married value are capped at 90% of the agreed purchase price (higher with additional security). All terms subject to valuation, full underwrite and status.
Acorn.finance is a specialist credit broker authorised and regulated by the FCA (#660207), not a tax advisory firm or accountant. Freehold acquisitions from pubcos or breweries, Stamp Duty Land Tax (SDLT) on commercial purchases, Transfer of a Going Concern (TOGC) rules for VAT, and OpCo/PropCo tax structures carry distinct financial implications. The information provided on this page is designed to highlight key structural concepts so you can lead an informed discussion with your qualified accountant or chartered tax specialist.
Knowledge & Next Steps
Freehold and leasehold finance for pubs, hotels, restaurants and venues.
Going-concern EBITDA lending for hotels, B&Bs and boutique stays.
Stop paying rent and own your trading premises.
Rolling credit lines for refurbishments, stock and seasonal cashflow.
Frequently Asked Questions
Your pub is your home and your livelihood — Pub90 exists to keep it that way.
Licensed Trade Desk: 0207 959 3882
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