Radstock (Cobblers Way) Residential Development Stage 1 Loan (RSP) (EIR 7.19%) -
Senior Tranche
Re-finance of the property and construction of 25 houses and 4 apartments 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
£1,593,000
Loan Term
26 Months
Lender Interest Rate
7%
Loan To Value (LTV)*
50%
Key Loan Details
Annual interest
£111,510
Security
1st Legal Charge
Guarantee
Personal Guarantees From the directors for £1,918,500 of the capital value of the loan plus interest and cost overruns
Interest serviceability
From retained loan proceeds for the term of the loan
Capital Repayment
Sale of the units on completion
Purpose of loan
Development
Key Property Details
Valuation
£11,044,760
Use
Residential
Location
South West
Virtual Data Room
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