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Financing the purchase of a leasehold flat

Bridging loan | First charge | Flat | Wickford

Client’s circumstances: A repeat customer, London based professional landlord, with a substantial portfolio of residential and commercial properties, was looking to purchase their first flat outside of London, a vacant 2-bedroom leasehold flat, and approached LandlordInvest to finance the purchase.

LandlordInvest’s service: LandlordInvest provided a first charge bridging loan of £173,978, with a loan term of 12 months and an LTV of 80.0%.

The result: The initial term of 12 months was not sufficient for the client to realise their exit. LandlordInvest understood the client’s difficulty and extended the loan for a further 6 months which provided the client with sufficient time to exit their loan into a long-term mortgage.

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Commercial property loans from £100,000 to £1,000,000.

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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.

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