LLP requires urgent refinancing

Bridging loan | Second charge | Flat | London

Client’s circumstances: The client needed to refinance a defaulted bridging loan and had terms for part of the required loan amount from a bridging lender but were still short of £100,000 to refinance the loan in full. The defaulted loan was accruing at a significant default rate and repossession was forthcoming.

LandlordInvest’s service: In only a few days LandlordInvest was able, working together with the new senior lender and relying on their valuation report, to provide the clients with a mezzanine loan of £100,000 with a loan term of 6 month and an LTV of 77.9% LTV to refinance the defaulted loan.

The result: The 6 month term gave the client enough time to sell the property and to repay the senior and mezzanine loan in full.

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.

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