Loan Details - Hemel Hempstead Residential Development Loan (Stage 1 of 2)

LOAN AMOUNT
£400,000 (as stage 1 of a 2-stage loan of ultimately £675,000)
LOAN TERM
15 months
Days to Repayment:
LENDER INTEREST RATE
8.5% p.a.
LOAN TO VALUE (LTV)
61%
Hemel Hempstead Residential Development Loan (Stage 1 of 2)

To refinance and demolish an existing bungalow property in Hemel Hempstead, Hertfordshire and build a pair of 3-bedroomed chalet style bungalows.

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KEY LOAN DETAILS
Annual interest:
£46,000
Security:
1st legal charge
Guarantee:
Full guarantee from the Borrowers for all sums due under the loan
Additional collateral:
N/A
Interest serviceability:
From retained loan proceeds for the term of the loan
Capital repayment:
From 100% of the proceeds of sale and/or refinancing of the Properties on completion of the development works
Purpose of loan:
Refinance & Development
KEY PROPERTY DETAILS
Valuation:
£1,100,000 (confirmed valuation for Relendex on full drawing of the ultimate loan of £675,000 and assuming completion of all works)
Use:
Residential
Location:
North East

Important Notice

 

Relendex Limited is regulated in the United Kingdom by the Financial Conduct Authority and entered on the Financial Services Register - FRN 723117.

 

Lenders participating in these arrangements should be clearly aware that any sum lent through the Exchange is a loan and not a deposit and its repayment is not guaranteed. It is in the nature of an investment opportunity. Any investor should consider an appropriate spread of risk. Non-institutional investors should seek professional advice before lending through the Relendex Exchange.
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Relendex Limited is registered in England, Company Number 07486328 Registered Office: Ground Floor, 45 Pall Mall, St James’s London, SW1Y 5JG

 

Relendex Limited is registered under the Data Protection Act, Registration Number PZ2708231

 

 


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