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Hope helps tenants buy listed pub in North Humberside

LTV: 65%

Term: 6m

Loan: £396,500.00

Property: Listed public house

Issue

The applicants were tenants at the Monks Walk Inn, a lovely listed public house in the centre of Beverley, North Humberside. The freeholder wanted to sell and offered our borrower the first option. The clients needed finance for 100% of the purchase price, but were prepared to offer an additional property they owned which was unencumbered.

Hope Capital’s solution

With the two properties, we were able to provide 100% of the purchase price. Despite some complications on the legal due diligence, Hope Capital were able to complete the loan very quickly.

Result

Even though completion was delayed by the vendor and their legal team, we still managed turn the case around within 16 days and the clients are now the proud owners of a successful trading public house.

 “Your help has been invaluable in getting the tricky case over the line and the next one must be more straightforward for us!” Andrew Craggs, ECS Management Ltd