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: A successful broker with a property portfolio, was unable to complete the purchase of a commercial property, leased to The Works, a FTSE listed retailer, due to being turned down by a lender at the last minute. The property agency that was selling the property reached out on the client’s behalf to help them complete the purchase and requested quick short-term funding.
Mustard’s service: Within two weeks of receiving the enquiry, Mustard provided a first charge bridging loan of £220,704, with a loan term of 6 months at 73.6% LTV.
The result: Mustard’s facility enabled the clients to purchase the property. However, the client’s exit strategy, which was to refinance onto a long-term bank loan, took longer than expected. Catering to the client’s situation, Mustard agreed to extend the loan two times, providing them with enough time to realise their exit strategy by refinancing on to a long-term mortgage with a bank.
