Ortus completes facility to help jump start Welsh guest house business

Ortus Secured Finance has completed a £200,000 facility for clients who were purchasing a guest house.

The customers had decided to leave their jobs and set up a new guest house business in west Wales by the coast.

They had no direct experience in the sector and had been turned away by banks.

However, they had a large cash deposit and only required a net 55% LTV loan.

Ortus, therefore, structured an 18-month facility, with interest deducted for the first three months, and servicing it from month four onwards.

The exit will come by way of the sale of the customer’s main residence.

This comes as part of Ortus’s support for the leisure sector, along with pubs, hotels, guest houses, Airbnb rentals and holiday lets.

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