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Client’s circumstances: The client, a known landlord and business owner in Leicester, was in an urgent need of refinancing a bank loan that was in default. The bank had appointed LPA receivers over the property.
Mustard’s service: Mustard provided a 12 month, £125,000 first charge loan at an LTV of 73.5%.
The result: Mustard’s loan allowed the client to repay the bank in full. Subsequently, the client sold the property within 3 months and was able to repay Mustard’s loan before maturity date.