Gosport (Priddy’s Peninsula) Residential Development Stage 4 Loan (RSP) (G) (EIR 7.98%) - B
Senior Tranche
To continue to fund the phase 2 construction of 8 houses at Priddys Hard to be known as Priddys Peninsula. 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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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
£72,000
Loan Term
8 Months
Lender Interest Rate
7.75%
Loan To Value (LTV)*
54%
Key Loan Details
Annual interest
£5,400
Security
1st Legal Charge
Guarantee
Personal Guarantees From the directors for £250,000 of the capital value of the loan plus all interest accrued and cost overruns.
Additional collateral
1st charge over the shares of the Borrower
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
£3,790,000
Use
Residential
Location
South East
Virtual Data Room
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