Crouch End (Haringey Park) Residential Development Stage 2 Loan (G) -
Senior Tranche
The continued development of 3 x 3 bedroom homes
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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
£555,500
Loan Term
11 Months
Lender Interest Rate
6.5%
Loan To Value (LTV)*
49%
Key Loan Details
Annual interest
£28,080
Security
1st Legal Charge
Guarantee
Personal Guarantees From the directors for £444,000 of the ultimate Facility Amount together with interest due under the Facility from time to time
Interest serviceability
Payable quarterly in arrears from retained loan proceeds for the term of the loan.
Capital Repayment
Proceeds of the sales of the 3 houses
Purpose of loan
Development
Key Property Details
Valuation
£3,700,000
Use
Residential
Location
Crouch End
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