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 client was looking to raise funds to purchase a commercial property in Haslemere and then apply for change of use into residential. Once planning had been obtained, the client was looking to sell the property to a property developer. The client already had an offer from a senior bridging lender but needed additional mezzanine funding to be able to complete on the purchase.
Mustard’s service: Mustard accepted the valuation that was instructed by the senior lender and was able to provide £84,492 mezzanine loan, with a 9 month loan term at an LTV of 69.2%.
The result: The client was able to acquire the property but was unable to realise exit within the loan term. As a result, Mustard offered a 4 month loan extension to help the client avoid default and the exit, which was the sale of the property with planning uplift, was completed within the extension period.
