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.
Loan Amount
£1,265,000
Loan Term
12 months
REPAID
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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