Don't invest unless you're prepared to lose money. This is a high-risk investment. You may not be able to access your money easily and are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
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Don't invest unless you're prepared to lose money. This is a high-risk investment. You may not be able to access your money easily and are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
Client’s circumstances: The borrower, an experienced property developer in Birmingham, was in need of funds to complete the purchase of a property that they had acquired in an auction.
Mustard’s service: Within a week, Mustard was able to complete on a 12 month facility loan of £93,776, at an LTV of 62.5% against the purchase price or 75.0% LTV of the Open Market Value.
The result: The borrower was able to complete the purchase within the required time frame. Due to COVID19 delays, the borrower was unable to repay the loan within the 12 month period. Consequently, Mustard extended the loan term for another 4 months, which gave the borrower enough time to refinance the loan into a long-term buy-to-let mortgage with another lender.
