Hereford (Kings Acre) Residential Development Stage 2 Loan
Senior Tranche
Stage 2 funding for the continued development of a large Residential Property
Interested in this loan? Check the Resale Marketplace for availability
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
£190,000
Loan Term
9 Months
Lender Interest Rate
6.25%
Loan To Value (LTV)*
49%
Key Loan Details
Annual interest
£8,900
Security
1st Legal Charge
Guarantee
Personal Guarantees from both directors for 30% of the capital, interest and cost overrun.
Interest serviceability
Interest will be payable quartley in arrears from proceeds retained from the Loan
Capital Repayment
Sale of the completed unit
Purpose of loan
To provide funds for the continued development of a large residential property
Key Property Details
Valuation
£800,000
Use
Residential
Location
West Midlands
Virtual Data Room
Registered(Approved) Lenders may view Loan Documents such as the Valuation Report in more detail in our Virtual Data Room - hosted online by Box
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