TAB completed a £4,000,000 1st charge bridging finance loan against a 36 bedroom hotel in Liverpool. The property, formally a working warehouse converted and extended in 2020/1, is under construction to add a further 20 bedrooms.
The borrower, an experienced owner, has developed a number of similar schemes and will be using the loan to refinance and complete the final refurbishment works, and will exit the loan by sale of the freehold and refinance of the leasehold.
The client and the broker were an absolute pleasure to work with, they were responsive and provided all the necessary information promptly allowing for a smooth loan application and underwriting process. We would be delighted to work with them both again in the future. EJ, underwriter
