Glastonbury (Rowley Road) Residential Development Stage 2 Loan -
Senior Tranche
A loan to continue the construction of 4 semi-detached properties with completion of development works proposed in April
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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
£269,500
Loan Term
8 Months
Lender Interest Rate
6.5%
Loan To Value (LTV)*
44%
Key Loan Details
Annual interest
£17,518
Security
1st charge over the property
Guarantee
The loan is in the personal names of the borrowers and thus there is full recourse to them personally for all sums due under the loan
Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the loan
Capital Repayment
Sale of the units on completion
Purpose of loan
Development
Key Property Details
Valuation
£1,790,000
Use
Residential
Location
South West
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