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Barton St David (Jarmany Hill) Residential Development Loan Stage 7 (RSP) (G) (EIR 8.77%) - B
Senior Tranche


To fund continued construction of 5 new build houses with collateral over adjoining land. 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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Loan Amount
£115,000
Loan Term
8 Months
Lender Interest Rate
8.5%
Loan To Value (LTV)*
70%
Key Loan Details

Annual interest
£9,775

Security
1st Legal Charge

Guarantee
Personal Guarantee From the director for £1,000,000 of the capital value of the loan plus interest and cost overruns

Additional collateral
(i) 1st legal charge over the Collateral Property (Land of 79.6 acres adjacent to the Property); and (ii) 2nd legal charge over the Baltonsborough Development.

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
£6,200,000

Use
Residential

Location
South West
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