Auction Details - Berkshire Commercial Bridging Loan

LOAN AMOUNT
£600,000
LOAN TERM
12 months
Days to Repayment:
LENDER INTEREST RATE
8.75% p.a.
LOAN TO VALUE (LTV)
50%
Berkshire Commercial Bridging Loan

Refinance of an existing petrol filling station property pending redevelopment into a modern facility pre-let to a major operator.

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KEY LOAN DETAILS
Annual interest:
£60,000
Security:
1st legal charge
Additional collateral:
Yes - Floating charge from the Borrower and Interest Deposit Account
Interest serviceability:
From retained loan proceeds for the term of the loan
Capital repayment:
From a refinance of the Property on to a development loan
Purpose of loan:
Refinance
KEY PROPERTY DETAILS
Valuation:
£1,200,000
Use:
Commercial
Location:
Berkshire

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