Auction Details - Bidston Hill Residential Bridging Loan

LOAN AMOUNT
£610,000
LOAN TERM
12 months
Days to Repayment:
LENDER INTEREST RATE
8% p.a.
LOAN TO VALUE (LTV)
60%
Bidston Hill Residential Bridging Loan

To refinance two newly built detached properties in a sought after residential location in Bidston Hill, Wirral to provide time to achieve sales.

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KEY LOAN DETAILS
Security:
1st legal charges over the Properties
Guarantee:
Joint and several personal guarantee from the directors for loan capital of £152,500 and interest due under the loan
Additional collateral:
Debenture from the Special Purpose Vehicle borrowing entity
Interest serviceability:
From retained loan proceeds for a minimum 9 months of the loan term
Capital repayment:
From a sale of the Properties prior to expiry of the term
Purpose of loan:
Refinance
KEY PROPERTY DETAILS
Valuation / Est. current value:
£1,020,000
Use:
Residential
Location:
North West

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