Quick rebridge

Bridging loan | First charge | Former pub converted to hostel | Bootle

Client’s circumstances: A couple had taken out a bridging loan from a well-known alternative finance provider whose loan term was coming to an end, giving the clients a limited time to repay the loan and avoid default fees. The loan was secured over a former pub that had been converted into a 40-bed luxury hostel in Bootle, Merseyside.

LandlordInvest’s service: Within 7 working days of receiving the enquiry, LandlordInvest provided a first charge bridging loan of £324,601, with a loan term of 12 months at 66.9% LTV.

The result: LandlordInvest’s facility enabled the clients to refinance their loan and avoid default fees. However, the clients’ exit strategy, which was to sell the security property, took longer than expected. Catering to the clients’ situation, LandlordInvest agreed to extend the loan two times, providing the client with enough time to realise their exit strategy.

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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