Sefton Park Residential Development


To finance the purchase and renovation of a former Victorian terrace property comprising 6 existing apartments in a south Liverpool suburb. The renovation works have been completed and two sales have legally closed and net proceeds received to reduce the LTV as noted below. Two further sales have also been agreed and will complete in coming weeks.

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Loan Amount
£520,000
Loan Term
12 months
Days to Repayment:
Lender Interest Rate
8.75% p.a.
Loan To Value (LTV)
35%
Key Loan Details

Annual interest
£52,000

Security
1st legal charge

Guarantee
Personal guarantee from the sole director for loan capital of £130,000 and interest due under the loan

Additional collateral
Floating charge from the Borrower

Interest serviceability
From retained loan proceeds for the loan term

Capital Repayment
From a sale of the individual apartments and the freehold

Purpose of loan
Purchase and refurbishment
Key Property Details

Valuation
£542,500 (Gross Development Valuation for Relendex)

Use
Residential

Location
North West
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Relendex Limited is registered in England, Company Number 07486328
Registered Office: 45 Pall Mall, St James's, London. SW1Y 5JG
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