Brickflow secures £755,000 hotel refinance with HBI

Brickflow has facilitated a £755,000 bridging refinance for an 18-bedroom hotel in Somerset, funded by HBI Capital. The deal completed less than a month after HBI Capital joined Brickflow's lending panel.

The transaction was introduced by Louis Wilson, Commercial Adviser at NM Finance, who was seeking bridging finance to repay existing debt on the hotel. After comparing several lenders on Brickflow's panel, NM Finance chose HBI Capital.

Rather than approach specialist hotel lenders individually, the broker was able to review terms and criteria side by side on the platform.

HBI Capital also agreed to rely on a valuation already in place from the existing facility, which proved important given the refinance deadline. The lender reviewed due diligence already gathered for the transaction instead of restarting the process.

That approach helped move the case from instruction to completion without duplicating earlier work. Glaisyers handled the legal work.

Panel expansion

The completion is an early example of Brickflow's value to newly added lenders on its panel. The platform provides brokers with live rates and criteria from more than 160 specialist lenders, allowing comparisons and near-instant Decisions in Principle.

For HBI Capital, the Somerset hotel refinance is its first completed case through the marketplace since joining the panel. The lender offers bridging, development and auction finance through Brickflow, with loan sizes ranging from £100,000 to £2m.

"This demonstrates how quickly a new lender can start winning business through Brickflow. NM Finance had a genuine choice of specialist lenders for this hotel refinance, and HBI Capital won the case because it was willing to work from the existing valuation rather than request a new one, despite a deadline that left no room for that. That is the value we want every lender on this panel to get: real cases that fit their criteria, and a fair shot to win them on their own terms. We expect this to be the first of many cases we place with HBI Capital as the relationship builds," Glenn Franklin-Jones, Director of Lender Relations at Brickflow, said.

Tight deadline

The case involved a hotel asset that sat outside the standard criteria grids often used in specialist lending. HBI Capital's case-by-case underwriting model allowed it to consider the deal and build on existing due diligence.

"We're pleased to have completed this transaction and delivered the certainty the borrower needed ahead of their deadline. Everyone involved took a collaborative and pragmatic approach, which helped keep the process moving from start to finish. The experience with Brickflow has been great and we're genuinely excited to add this vital origination channel to our business," said John Blahuta, Director at HBI Capital.

Speed and direct access to decision-makers were central to the outcome, according to the broker. The refinance was completed against what NM Finance described as an urgent timetable, with significant consequences for the borrower if the deadline had been missed.

"Working with HBI has been a breath of fresh air, particularly on a deal as urgent as this one, with real consequences for the borrower if it had not been completed in time. No convoluted credit process, just direct access to decision-makers, commercial thinking and a genuinely client-centric approach. This deal really epitomises what true bridging should be about, and Brickflow has exposed us to some fantastic lenders," Louis Wilson, Commercial Adviser at NM Finance, said.

Glaisyers advised on the legal side of the transaction and said coordination between the parties helped keep the deal on track.

"We were delighted to support this transaction and work alongside a team committed to delivering a practical solution within demanding timescales. HBI Capital's commercial approach and responsiveness were instrumental in helping the matter progress smoothly to completion. Clear communication and decisive action from all parties helped maintain momentum throughout the process. HBI Capital's ability to take a pragmatic view of the transaction was particularly valuable. It was a pleasure to work with everyone involved and to help deliver a successful outcome for the client," said Kathryn O'Rourke, Partner at Glaisyers Solicitors.