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Mixed-use property development

Development loan | First charge | Terraced | Evesham

Client’s circumstances: A successful and well-known property development company planned to refurbish and develop a mixed-used property Evesham, West Midlands. The proposed works included refurbishment of a ground floor retail space and change of use of an existing first floor maisonette into two flats, together with a two storey rear extension.

The client had terms from a well-known lender, who had instructed valuation and legals. However, the lender’s funding line was suddenly pulled and the client’s broker reached out to LandlordInvest directly.

LandlordInvest’s service: LandlordInvest took the client onboard, providing a first charge development facility of £85,539, with a loan term of 12 months at 56.1% LTGDV.

The result: The client successfully refurbished and developed the property as intended and repaid LandlordInvest’s facility before maturity by refinancing with another lender.

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