Worthing (Ham Way) Residential Development Stage 2 Loan (RSP) (EIR 7.19%) -
Senior Tranche
The fund the continued construction of 3 houses. EIR is the Effective Interest Rate and assumes the re-investment of quarterly interest receipts into loans on the Relendex platform offering an equivalent interest rate as below.
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IMPORTANT
For more information to help you understand the relative risks of Junior and Senior Tranche Loans - Click Here
For more information to help you understand the relative risks of Junior and Senior Tranche Loans - Click Here
Loan Amount
£200,000
Loan Term
11 Months
Lender Interest Rate
7%
Loan To Value (LTV)*
50%
Key Loan Details
Annual interest
£14,000
Security
1st Legal Charge
Guarantee
Personal Guarantee from the director for the capital value of the loan plus interest and cost overruns
Interest serviceability
From retained loan proceeds for the term of the loan
Capital Repayment
Sale of the units on completion
Purpose of loan
Development
Key Property Details
Valuation
£1,175,000
Use
Residential
Location
South East
Virtual Data Room
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