Auction Details - South Liverpool Residential Development

LOAN AMOUNT
£870,000
LOAN TERM
12 months
Days to Repayment:
LENDER INTEREST RATE
8.5% p.a.
LOAN TO VALUE (LTV)
50%
South Liverpool Residential Development

Loan to refinance and redevelop a Grade II listed period mansion house into 9 apartments for resale in a desirable Liverpool suburb

Interested in this loan? Check Resale Marketplace for availability
KEY LOAN DETAILS
Annual interest:
£87,000
Security:
1st legal charge
Guarantee:
Yes - Personal guarantee from the directors for loan capital of £200,000 and interest due under the loan
Additional collateral:
Yes - Floating charge from the Borrower
Interest serviceability:
From retained loan proceeds for 9 months and thereafter by the Borrower from net sale proceeds.
Capital repayment:
From a sale of the individual apartments
Purpose of loan:
Refinance and redevelop
KEY PROPERTY DETAILS
Valuation:
£1,750,000
Use:
Residential
Location:
North West

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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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