Precise funds bridging loan to convert former pub into family home

Precise has completed a heavy refurbishment bridging loan to support the conversion of a former pub into a residential family home.

The deal was arranged by Ross Williams, Specialist Finance Account Manager at Precise, working with Sam O’Neill, Senior Bridging Consultant at KIS Bridging Loans.

The client owned the former pub building and had secured planning permission to convert it into a residential property. With approval now in place, the borrower required funding to begin renovation works to transform the building into their family home.

Precise provided 70% day-one lending, enabling the client to begin the refurbishment project. Additional funding will be released through staged drawdowns as the works progress.

The project has particular significance for the borrower, who previously ran the pub and is now converting the building into their long-term home.

Alan Kimber, Head of Bridging at Precise, said the case highlights how bridging finance can support a wide range of client objectives.

“This case illustrates one of the many ways bridging finance can help clients achieve their goals, particularly when the objective is something personal,” he said.

Ross and the specialist bridging team have built up significant knowledge and experience, and combined with Precise’s 15 years as a bridging lender we are well placed to support brokers and their clients.

We continue to listen closely to broker feedback so that we can enhance our service and deliver strong outcomes for clients.”

Sam O’Neill, Senior Bridging Consultant at KIS Bridging Loans, said the transaction required careful structuring due to the nature of the project.

“A regulated pub conversion requiring staged drawdowns is not a typical bridging case, which is why it was important to look beyond the headline details of the deal,” he said.

From our experience working with the specialist bridging team at Precise, we knew they would be the right fit. We worked closely with Ross and the underwriting team to ensure the process ran smoothly.

Complex cases need to meet the lender’s criteria, but it’s important that all options are explored so that the client is not left with an unnecessarily expensive solution. It was a great result and the client was delighted.”

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