Client’s circumstances: An experienced Welsh developer, and a LandlordInvest repeat customer, required development finance for a ground-up development in Monmouthshire: A detached, 3-bedroom residential property over 4 floors with a GDV of £295,000.
LandlordInvest’s service: LandlordInvest provided a multi-tranche first charge development loan with a loan term of 12 months at 62.3% LTGDV.
The result: The client completed the development successfully but required additional time to repay LandlordInvest’s loan due to delays in obtaining a BTL mortgage for the newly constructed property. The loan was extended for 6 months to give the borrower time to refinance the loan and move on in their property development career.
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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 330 High Holborn, London, WC2A 1HL
