The vendors at The Pendennis Guest House had been let down a number of times by potential buyers and had lost confidence that they would ever be able to sell the property, particularly during the coronavirus pandemic.
Our clients Richard & Sarah were feeling frustrated and disappointed after their offer had also been withdrawn by a High Street bank even after it had been sanctioned, but determined not to give up they found us online and spoke to one of our experts, Mike Cox.
Mike reassured Richard & Sarah that despite the current trading conditions we would be able to help them, not only did we do this but we were able to secure the debt on improved terms than the original High Street lender. Mike also built up a relationship with the vendor giving them confidence that there was no need to remarket the guest house and also preventing a sale to a developer and that the deal would get done!
As we are specialists in the Hospitality Finance sector there are many benefits for using our services to obtain your finance:
- We can obtain a Decision in Principle which enables some certainty to the vendor that the sale will proceed.
- We have access to preferential rates that are not available to the general public.
- We can liaise with the agent, vendor and yourself to ensure the purchase goes through as smoothly as possible.
- We understand the requirements of the lenders and present the deal to meet their criteria.
- We support you throughout the process.
The Pendennis Guest House is located in the popular resort of Penzance, just a moment’s walk from the seafront and town centre and ideally located for many popular tourist attractions including St Michaels Mount & Mousehole. In October 2020 Richard & Sarah became the new proud owners and we wish them a very happy & successful future.
What Richard & Sarah say about Stewart Hindley:
“Stewart Hindley were invaluable in securing us a great mortgage for our dream guest house. Mike kept us informed and updated all the way through and helped us with our application and business plan as well as reassuring the vendors while the mortgage was processed. We are very grateful to Mike and everyone at Stewart Hindley for all the help and advice they have given us.”