Harrow (Harrow Road) Residential Development Stage 2 Loan (RSP) - (EIR 7.71%) A
Senior Tranche
To fund the continued construction of a terrace of 3 houses at Harrow Road, Harrow, London. 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
£214,000
Loan Term
9 Months
Lender Interest Rate
7.5%
Loan To Value (LTV)*
50%
Key Loan Details
Annual interest
£16,050
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
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
Development
Key Property Details
Valuation
£1,830,000
Use
Residential
Location
London
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