Completing a residential development

Bridging loan | First charge | Detached | Smethwick

Client’s circumstances: A limited company borrower required around £90,000 to complete a development of a two-storey dwelling which would upon completion provide three bedrooms in Smethwick, West Midlands. The property was unencumbered and the borrower had used own funds to purchase the land and financed the initial development costs.

LandlordInvest’s service: LandlordInvest provided a 12 month, £101,810 first charge loan at an LTV of 44.7% within a few days of receiving the enquiry.

The result: LandlordInvest’s facility allowed the client to complete the development and the 12 month loan term gave the client sufficient time to refinance the facility loan into a long-term mortgage with a high street 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.

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