Property: Horse & Harrow Pub, Oxfordshire

Purchase price: £912,000

VAT facility: £182,000

Loan term: 90 days

Completion date: 19^th July 2024

BloomSmith has delivered a £182,000 VAT bridging loan for a pub acquisition in the beautiful village of West Hagbourne just outside Didcot, Oxfordshire.

The loan facility was delivered within five working days of the initial application, with the client receiving a 90-day bridging loan to cover the VAT element of the purchase.

This fast turnaround was achieved thanks to BloomSmith’s streamlined lending model and the expertise of its key strategic partners Fladgate LLP and Buckle Barton.

On the deal, purchaser Imran Lokhon, founder of LOKHON Group, said: “The loan was provided quickly by the BloomSmith team, and they delivered a truly professional service throughout.

“The efficiency of this funding has helped assist our pursuit of an exciting growth opportunity.

“Bloomsmith will now become our go to strategic partner for future VAT related purchases and we would highly recommend them to anyone looking for exceptional service and support.”

Nigel Smith, BloomSmith CEO, said: “The speed of this transaction is a prime example of how our provision can smooth the commercial property purchasing process.

“Delivering this loan was a fine example of how efficiently our process can work and we would like to thank Imran for the organisation and knowledge he has demonstrated throughout.

“A special thank you must also go to our partners Buckle Barton and Fladgate LLP for their hard work throughout the process.”

The land on which the property has been acquired will be utilised for a brand-new housing development.

You can also see if you qualify for a loan via our VAT Bridging Loan Eligibility Checker.