Gosport (Priddy's Peninsula) Mezzanine Loan (RSP) (G)
An equity release to support the group’s business expansion and securing additional development sites. The loan is secured against the development of 8 houses on the Priddy’s Peninsula site
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Loan Amount
£250,000
Loan Term
16 Months
Lender Interest Rate
10%
Loan To Value (LTV)*
70%
Key Loan Details
Annual interest
£25,000
Security
2nd Legal charge over the property
Guarantee
From the borrower for the full facility amount i addition to all interest and cost overruns
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
Mezzanine
Key Property Details
Valuation
£3,675,000
Use
Residential
Location
South East
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