Refinance to release additional funds

Bridging loan | First charge | Detached | Bolton

Client’s circumstances: The client was looking to refinance and release additional funds to complete the conversion of the security property, an extended two-storey detached house in Bolton, Lancashire.

LandlordInvest’s service: Within 7 working days of receiving the enquiry, including accepting a re-typed valuation report instructed by another lender, LandlordInvest provided a first charge bridging loan of £286,501, with a loan term of 7 months at 54.6% LTV.

The result: LandlordInvest’s loan allowed the client to refinance their loan and assisted them to release additional funds to complete the conversion. The client repaid LandlordInvest’s loan within 3 months after refinancing into a long-term buy-to-let mortgage with another lender.

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

© 2022 LandlordInvest Ltd. All rights reserved.