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Hitchin Residential Bridging Loan

To refinance a development site in Offley, near Hitchin, Herfordshire and complete phase 1 infrastructure and foundation works only for a single detached house of 3,500 sq ft ahead of subsequent further works to complete the house in 2019.

Loan Amount
£540,000
Loan Term
9 months
REPAID
Lender Interest Rate
8%
Loan To Value (LTV)*
58%
Key Loan Details

Annual interest
£40,875
Security
1st Legal charge
Guarantee
Personal guarantee from the directors for all sums due under the loan.
Interest serviceability
From retained loan proceeds for 6 months of the proposed 9 month term and thereafter by the Borrower.
Capital Repayment
From refinancing by a new development loan with Relendex before expiry of the term.
Purpose of loan
Bridging
Key Property Details

Valuation
£925,000
Use
Residential
Location
Hertfordshire
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

Please contact Lender Support if you don't have access to Box
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If you would like to able to view the Loan Documents
Relendex Limited is registered in England, Company Number 07486328
Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

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Important Notice

Relendex Limited is authorised and regulated by the Financial Conduct Authority (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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