Oswestry Residential Development Loan
Loan to finance the extension of a farmhouse and conversion of an adjacent barn into two separate 4-bedroomed detached properties for re-sale on land near Oswestry in Shropshire.
Interested in this loan? Check the Resale Marketplace for availability
Loan Amount
£840,000
Loan Term
12 months
Lender Interest Rate
8.5% p.a.
Loan To Value (LTV)*
60%
Key Loan Details
Annual interest
£81,250
Security
1st legal charges
Guarantee
Personal guarantee from the directors for loan capital of £250,000 and interest due under the loan
Additional collateral
Floating charge from the Borrower
Interest serviceability
Interest serviced by retained loan proceeds
Capital Repayment
From sale of the individual properties
Purpose of loan
Purchase and refurbishment
Key Property Details
Valuation
£1,400,000
Use
Residential
Location
West Midlands
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