Client’s circumstances: We were approached by a broker whose client, a professional with a property portfolio, urgently required to refinance a bridging loan that was maturing. Failure to redeem the loan on time and the client would have faced substantial default fees.
LandlordInvest’s service: Within a week, LandlordInvest arranged a bridging loan of £129,897, with a loan term of 9 months at 74.2% LTV and a rate of 0.9% per month.
The result: Due to the liquidity freeze and withdrawal of many lenders because of the COVID19 pandemic, the client was not able to refinance LandlordInvest’s loan within the 9 month loan term. LandlordInvest understood the client’s difficulties and allowed them additional time by extending the loan two times. Eventually, the client was able to refinance the loan with another lender.
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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
