The clients — Stephen (pictured above, left) and Martin Sweeney (right) — required the funds to purchase the Vermont Guest House, and convert it into boutique holiday apartments.

The specialist finance was able to support the borrowers with a 70% LTV loan, priced at a variable rate of 5.99% over a 120-month term.

Following the acquisition, the brothers will carry out extensive remodelling and renovation programme, using local tradespeople and companies to complete the work.

The final project will deliver 10 luxury, self-catering rooms for visitors in one building, with another 11 rooms in a separate building — all of which will be equipped with the latest smart technology.

The new apartments are currently under development, and are expected to be open to the public in spring this year.

•   What does the specialist finance industry need in 2023 and beyond?
•   Propp and Together complete £100,000 bridging loan in less than eight hours
•   Together's loan book reaches £5.9bn, but underlying profit before tax drops to £25.8m

Steven Clark, regional development director at Together, said: “We are delighted to have helped the brothers in the purchase of this guesthouse. 

“Having worked with them previously, we are confident in the brother’s ability to build a successful business here, and hope that this is just the next step in the building of their property portfolio.”

Martin added: “We are incredibly excited to open our new Sweeney Rooms development; the area has so much to offer visitors from all over the world, and the tourism provides jobs and income to people who live locally.

“Having already built an excellent relationship with Together, we didn’t hesitate to approach them again to assist with the funding of this project. 

“We look forward to opening a number of new sites across Scotland in the future, offering the same high-quality, luxury places for visitors to stay and experience everything this country has to offer.”