A castle in Flintshire, Wales, will go under the hammer next week after the borrower failed to refinance a £3.4m loan issued against it by Lendy.
Westbury Castle, Prestatyn, will be offered at the Allsop residential sale on 15 February with a guide of £1.5m – £2m.
A spokesman for Lendy, the peer-to-peer crowd-funded investment platform, said: “The borrower was asked to refinance as the loan expired. However, the borrower was unable to repay the loan in time, so receivers were appointed and the property is going to auction.
“We have a detailed valuation of £4.9m from a reputable firm of valuers and this is the value that was lent against.” The auction will take place at InterContinental London Park Lane, W1.
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