Conwy Residential Bridging Loan


To refinance a newly built block of 9 apartments in Rhos-on-Sea, Conwy County, North Wales, with 2 pre-sales already agreed.

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Loan Amount
£1,265,000
Loan Term
12 months
Days to Repayment:
Lender Interest Rate
8%
Loan To Value (LTV)
55% (initially launched at 61% and subsequently reduced with proceeds from agreed pre-sales)
Key Loan Details

Security
1st Legal Charge

Guarantee
Full personal guarantee as the loan is in personal names

Interest serviceability
From deposit account proceeds for the term of the loan term

Capital Repayment
From sales of the properties prior expiry of the term

Purpose of loan
Refinance
Key Property Details

Valuation
£2,075,000

Use
Residential

Location
Wales
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