Bushey Residential Development Loan - Stage 2
Loan to continue development of four luxury apartments
Interested in this loan? Check the Resale Marketplace for availability
Loan Amount
£340,000
Loan Term
7 months
Lender Interest Rate
8.5%
Loan To Value (LTV)*
70%
Key Loan Details
Annual interest
£16,858
Security
1st Legal Charge
Guarantee
Personal guarantee from the director for £500,000
Additional collateral
A fixed and floating charge over the assets and undertakings of the borrower
Interest serviceability
Interest retained from the loan proceeds for the term of the loan
Capital Repayment
Interest will be payable quarterly in arrears from proceeds retained from the loan for 4 months and thereafter by the borrower
Purpose of loan
Development
Key Property Details
Valuation
£2,200,000
Use
Residential
Location
Hertfordshire
Virtual Data Room
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