Freehold acquisition

Bridging loan | First charge | Bungalow | Radlett

Client’s circumstances: An experienced North London based developer was looking to purchase a vacant 3 bedroom detached bungalow in Radlett, Hertfordshire. The client’s goal was to obtain planning uplift and either sell the property with the benefit of enhanced planning or to develop the property.

LandlordInvest’s service: LandlordInvest provided a bridging loan of 376,471, with a loan term of 12 months at 57.9% LTV.

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. LandlordInvest understood the client’s difficulties and allowed them additional time by extending the loan several times. In the end, the client was able to refinance the loan with a specialist 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

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