Hampstead (Heath Brow) Residential Bridging Stage 1 Loan (RSP) (EIR 8.77%) - B
Senior Tranche
To Refinance the Property, provide a contribution to reimburse the cost of the construction works to implement the planning permission for the proposed development of the Property and provide an Equity Release to the Borrower. 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
£354,000
Loan Term
12 Months
Lender Interest Rate
8.5%
Loan To Value (LTV)*
65%
Key Loan Details
Annual interest
£30,090
Security
1st Legal Charge
Guarantee
Personal Guarantee From the Principal for the full capital value of the loan plus interest and cost overruns
Interest serviceability
From retained loan proceeds for the term of the loan
Capital Repayment
Refinance onto a Development loan
Purpose of loan
Bridging
Key Property Details
Valuation
£2,000,000
Use
Residential
Location
London
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