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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IMPORTANT
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For more information to help you understand the relative risks of Junior and Senior Tranche Loans - Click Here
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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