Client’s circumstances: The client was looking to raise funds to purchase a commercial property in Haslemere and then apply for change of use into residential. Once planning had been obtained, the client was looking to sell the property to a property developer. The client already had an offer from a senior bridging lender but needed additional mezzanine funding to be able to complete on the purchase.
LandlordInvest’s service: LandlordInvest accepted the valuation that was instructed by the senior lender and was able to provide £84,492 mezzanine loan, with a 9 month loan term at an LTV of 69.2%.
The result: The client was able to acquire the property but was unable to realise exit within the loan term. As a result, LandlordInvest offered a 4 month loan extension to help the client avoid default and the exit, which was the sale of the property with planning uplift, was completed within the extension period.
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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
