Keinton Mandeville (Lakeview) Residential Redevelopment Stage 2 Loan (RSP) - (EIR 9.04%)
Junior Tranche
To fund the redevelopment of a property into a single 4-bedroomed house, in accordance with planning permission. 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
£144,000
Loan Term
7 Months
Lender Interest Rate
8.75%
Loan To Value (LTV)*
70%
Key Loan Details
Annual interest
£12,600
Security
1st Legal Charge
Guarantee
Personal Guarantee from the Director for interest due under the loan
Interest serviceability
Interest will be payable quarterly in arrears from funds already held in deposit.
Capital Repayment
Sale of the completed property
Purpose of loan
Development
Key Property Details
Valuation
£1,200,000
Use
Residential
Location
South West
Virtual Data Room
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