The lender was introduced to the client via Finance 4 Business.

The client – who had no previous experience as a hotelier – was looking to purchase the Hind Hotel in Wellingborough, Northamptonshire, from official receivers with a 12-day deadline.

The borrower hoped to purchase and then complete heavy works on the listed building using drawdowns in order to refurbish the premises and exit on to a commercial occupier mortgage once the trading history was sufficient and the refurbishment was complete.

Aspen initially provided £325,000 for the acquisition of the hotel, before lending a further £225,000 to assist with the renovation.

This meant the client had the funds required to progress with the build without any delays.

Speed was key to the deal, as there were other interested parties looking to purchase the property.

Wayne Hicklin, underwriter and loan manager at Aspen Bridging, went to the property and met with the client, the valuer and local planning officer to iron out any potential delays to ensure they could complete the case within 12 days.

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“From the first contact they were sympathetic to the unique requirements of the transaction and responded in a timely manner to all my queries,” said the borrower.

“The due diligence process was seamless, using professional advisory teams, and the funds drawdown was timely. 

“All in all, an excellent service and I would use Aspen again in the future.”

“The client and team at Finance 4 Business were a pleasure to deal with, and it’s gratifying to see our processes working well in order to complete cases quickly with no disruption or delay,” said Wayne.

Russell Martin, managing director at Finance 4 Business, said its relationship with Aspen was flourishing.

“From assisting Aspen in evolving and developing [its] products pre-launch to the current time has been a great journey.

“This is yet another example of a broker/lender relationship working in unison to deliver a great customer outcome.

“Aspen [has] maintained [its] fantastic service levels throughout [its] growth, which bodes well for the future.”