Client’s circumstances: A professional couple, with a commercial property portfolio, required a quick bridging loan to complete on the purchase of a vacant commercial property acquired in auction.
LandlordInvest’s service: LandlordInvest arranged a bridging loan of £105,570, with a loan term of 12 months at 75.4% LTV and a rate of 0.9% per month.
The result: Due to delays caused by the COVID19 pandemic, the client was not able to refinance LandlordInvest’s loan within the 12 month loan term. We understood the clients' difficulties and extended the loan two times to provide them with more time to redeem the loan. In the end, the clients redeemed the loan by obtaining a long-term mortgage from a High-street bank.
Investment through LandlordInvest involves lending to individuals and companies, so your investment can go down as well as up. Borrowing through LandlordInvest involves entering into a mortgage contract secured against a property as the borrower. Your property may be repossessed if you do not keep up repayments on your mortgage.
LandlordInvest Limited is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 660926). LandlordInvest Limited is not covered by the Financial Services Compensation Scheme (FSCS).
Loans provided to borrowers through LandlordInvest are provided solely for business purposes. Loans are therefore not regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974. You should seek independent legal advice if you are in any doubt as to the consequences of the loan not being a regulated agreement under those Acts.
LandlordInvest Limited (Company No. 09245725), registered office 5 Chancery Lane, London, WC2A 1LG