Auction Details - Conwy Residential Bridging Loan

LOAN AMOUNT
£1,265,000
LOAN TERM
12 months
Days to Repayment:
LENDER INTEREST RATE
8% p.a.
LOAN TO VALUE (LTV)
55% (initially launched at 61% and subsequently reduced with proceeds from agreed pre-sales)
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.

Interested in this loan? Check Resale Marketplace for availability
KEY LOAN DETAILS
Security:
1st legal charge
Guarantee:
Yes - Full personal guarantee as the loan is in personal names
Additional collateral:
No
Interest serviceability:
From deposit account proceeds for the term of the loan term
Capital repayment:
From sales of the Properties prior to expiry of the term
Purpose of loan:
Refinance
KEY PROPERTY DETAILS
Valuation:
£2,075,000
Use:
Residential
Location:
Wales

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Lenders participating in these arrangements should be clearly aware that any sum lent through the Exchange is a loan and not a deposit and its repayment is not guaranteed. It is in the nature of an investment opportunity. Any investor should consider an appropriate spread of risk. Non-institutional investors should seek professional advice before lending through the Relendex Exchange.
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