Italian Job after the Pandemic

£800k refinance required to repay the incumbent lender and LPA receivers.

The subject property was a High Street restaurant that had been badly affected by Covid-19.

The restaurant, like many others, had been closed for a large part of 2020 and only managed to re-open in April 2021.

Momentum working closely with the Client, the LPA Receivers and Incumbent lender, we can negotiate a deal.

Additional security was used, the 2nd charge over personal property and further control over a dilapidated barn.

The refinance was completed, and the Client can now resume front of house operations in his Italian restaurant.

Momentum will soon look to further advance on the deal to complete a heavy refurbishment on the barn to convert it to a three bedroom BTL.