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Dalston (Balls Pond Road) Residential Redevelopment Stage 1 Loan (RSP) - (EIR 8.03%) A
Senior Tranche


To fund the purchase of the company that owns a vacant commercial property in Dalston, north London and to fund the conversion of part into 7 apartments, subject to planning approval, with retention of the remaining vacant commercial space for subsequent development. EIR is the Effective Interest Rate and assumes the re-investment of quarterly interest receipts into loans on the Relendex platform offering an equivalent interest rate as below.

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Loan Amount
£972,000
Loan Term
17 Months
Lender Interest Rate
7.8%
Loan To Value (LTV)*
40%
Key Loan Details

Annual interest
£75,816

Security
1st Legal Charge

Guarantee
Personal Guarantee from the principal for £321,125 of the loan capital, unpaid interest due under the loan and all cost overruns

Additional collateral
2nd Legal Charge over Collateral Property at Harrow

Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the loan

Capital Repayment
Sale or refinance the completed units

Purpose of loan
Redevelopment
Key Property Details

Valuation
£4,175,000

Use
Mixed

Location
London
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Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

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