Client’s circumstances: An established East End development company required a mezzanine loan behind Octopus Real Estate’s £5.8 million senior loan. The development comprised the demolition of two single storey retail units and the development of a five-storey apartment block in East Ham, London. The block contained 24 residential units with a Gross Development Value (GDV) of £8.36 million.
LandlordInvest’s service: LandlordInvest provided a mezzanine loan of £305,344, with a loan term of 21 months at 73.7% LTGDV.
The result: LandlordInvest’s facility helped the client to successfully complete the project. The client repaid LandlordInvest’s loan by selling the property once it was completed.
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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.
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