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, a former Knight Frank surveyor running a successful niche development company in London together with a partner, intended to raise additional funds behind United Trust Bank to be able to complete the purchase of five self-contained vacant office buildings located in Banbury, Oxfordshire, for a consideration of £2.2 million. Upon completing the purchase of the property, the client intended to apply for a change of use from commercial to residential.
Mustard’s service: Mustard provided a second charge bridging loan of £410,959, with a loan term of 12 months at 73.9% LTV, behind United Trust Bank.
The result: Mustard’s second charge facility provided the client with the required funds needed to complete the purchase of the property. Due to delays with the planning application, Mustard extended the loan for an additional four months. Eventually, the planning application was granted, and the loan was repaid.
