Client’s circumstance: A professional property investor, with a multi-million property portfolio of residential and commercial properties, required a second charge loan, secured over one of their investment properties: An architect-designed commercial property located in Central Liverpool.
The property, with a market value of £2.0 million and producing £145,000 per annum in rental income, was leased to an award-winning architect firm.
Shawbrook Bank held the first legal charge over the property.
LandlordInvest’s service: LandlordInvest provided a second charge bridging loan, with an LTV of 72.3% and a loan term of 18 months.
The result: The initial term of 18 months was not sufficient for the client to realise their exit. Therefore, having the challenging climate of the commercial real estate market in mind, LandlordInvest extended the loan which provided the client with sufficient time to exit the loan by selling the property in auction and repay the loan in full.
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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 330 High Holborn, London, WC2A 1HL
