Bolton Le Sands Residential Development Finish and Exit Loan -
Senior Tranche
To refinance existing development funding and complete development works on 2 x 4-bedroomed detached houses in Bolton-le-Sands, Carnforth, Lancashire, each with sales agreed.
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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
£400,000
Loan Term
6 Months
Lender Interest Rate
6.5%
Loan To Value (LTV)*
40%
Key Loan Details
Annual interest
£26,000
Security
1st Legal Charge
Guarantee
Personal Guarantees From the directors for the capital value of the loan plus interest and cost overruns
Interest serviceability
Interest will be payable quartley in arrears from proceeds retained from the Loan
Capital Repayment
From agreed sales at £500,000 each upon completion
Purpose of loan
Completion of development and exit.
Key Property Details
Valuation
£1,000,000
Use
Residential
Location
North West
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