Refinancing a development loan

Bridging loan | Second charge | Double-fronted | Tunbridge Wells

Client’s circumstances: An experienced developer had completed a conversion of 10 flats in Royal Tunbridge Wells, with an aggregated GDV of £5,515,000, and was looking to refinance the development loan. A senior lender, with whom LandlordInvest has a long-standing lending relationship with, introduced the loan as the developer needed to increase their LTV in addition to the senior lender’s loan offer.

LandlordInvest’s service: LandlordInvest arranged a 12 month, £336,186 second charge loan at an LTV of 67.2%.

The result: The loan was initially extended for a period of three months and thereafter refinanced shortly after loan maturity by a CBILS facility with an established bridging 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

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