Client’s circumstances: The client, a former Knight Frank surveyor running a successful niche development company in London together with a partner, intended to raise additional funds behind United Trust Bank to be able to complete the purchase of five self-contained vacant office buildings located in Banbury, Oxfordshire, for a consideration of £2.2 million. Upon completing the purchase of the property, the client intended to apply for a change of use from commercial to residential.
LandlordInvest’s service: LandlordInvest provided a second charge bridging loan of £410,959, with a loan term of 12 months at 73.9% LTV, behind United Trust Bank.
The result: LandlordInvest’s second charge facility provided the client with the required funds needed to complete the purchase of the property. Due to delays with the planning application, LandlordInvest extended the loan for an additional four months. Eventually, the planning application was granted, and the loan was repaid.
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Bridging loan | First charge | Former pub converted to hostel | Bootle
Equity release from BTL properties
Buy-to-let | First charge | Flats | Coventry
Refinance to release additional funds
Bridging loan | First charge | Detached | Bolton
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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 5 Chancery Lane, London, WC2A 1LG