pub finance

Stepping in when delays almost scuppered a deal, we were able to stop a client losing a business on the same day as we were asked to help.

A popular English pub approached us to refinance their pub and restaurant. Looking to secure £455,000 to pay off a loan, legal delays had meant they were in a very awkward position. The deal appeared to be finalised, but solicitors were stalling and they were still no closer to completion.

This was on an attractive, long-term lease, however many lenders had been approached previously and would not finance a pub – let alone refinance one that had an expired bridging loan.

After speaking to one of our introducers, who promptly passed on their details, our team ensured the pub had terms the same day, the valuation rewritten in three days and solicitors working on the completion that week.

Despite that fact the lending became riskier after receivers were called in by the original lenders, our contact understood that this did not weaken their position.

We took the case through to completion and are happy to say our client did not lose the property.