Client’s circumstances: A successful broker with a property portfolio, was unable to complete the purchase of a commercial property, leased to The Works, a FTSE listed retailer, due to being turned down by a lender at the last minute. The property agency that was selling the property reached out on the client’s behalf to help them complete the purchase and requested quick short-term funding.
LandlordInvest’s service: Within two weeks of receiving the enquiry, LandlordInvest provided a first charge bridging loan of £220,704, with a loan term of 6 months at 73.6% LTV.
The result: LandlordInvest’s facility enabled the clients to purchase the property. However, the client’s exit strategy, which was to refinance onto a long-term bank loan, took longer than expected. Catering to the client’s situation, LandlordInvest agreed to extend the loan two times, providing them with enough time to realise their exit strategy by refinancing on to a long-term mortgage with a bank.
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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
