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Refinancing a distressed bank loan

Bridging loan First charge Mid-townhouse Hinckley

Client’s circumstances: A landlord and business owner who has been Mustard’s client for some time, required immediate refinancing of a bank loan that was in default. The bank had appointed LPA receivers and the property was marketed on the open market.

Mustard’s service: Mustard acted swiftly, working together with the client, valuer and solicitors and provided the client with a 6 month, £115,694 first charge loan at an LTV of 72.3%.

The result: The client was able to repay the distressed bank loan with the loan facility that Mustard provided and avoided forced sale of the property.

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Property and business loans up to £1,000,000.