The family intended to change the use of the pub into a place where it could run their business: a bathroom company, interior design and tea room.
The borrower required the funds quickly to ensure they did not miss out on the property.
Roma was able to provide the £200,000 bridging facility in just 14 days.
The facility was over nine months and the exit is the refinance to their existing bank.
The customer was new to bridging finance, but the lender helped them to understand the transaction and secure the finance as quickly as possible.
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“Working with a customer who was a first-time bridging finance user, I was their dedicated point of contact for their bridging finance requirements in order to facilitate a fast turnaround,” said Simon Micklethwaite, business development manager at Roma Finance (pictured above).
“The pub was a very viable change of use project and was just what the customer wanted to run their family business.
“The customer was delighted with the speed at which the finance was delivered and they were very pleased with the high level of service myself and the team at Roma provided at each stage of the process.”