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Second charge loan for business purposes

Bridging loan Second charge Mid-terrace Luton

Client’s circumstances: Intending to acquire a hospitality business in South Africa, the client was looking to raise quick financing on two investment properties in Luton, Bedfordshire, to finalise the acquisition.

Mustard’s service: Mustard provided a second charge bridging loan of £121,951, with a loan term of 12 months at 69.1% LTV.

The result: The client acquired the hospitality business and repaid Mustard’s loan before the maturity date by selling one of the investment properties.

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