Watford Residential Redevelopment Loan - The Chase
A bridging loan to refinance and redevelopment of a 5 bedroom property in Watford. The property will be converted into 2 separate flats and 1 semi-detached house for individual resale.
Interested in this loan? Check the Resale Marketplace for availability
Loan Amount
£535,000
Loan Term
12 months
Lender Interest Rate
8.5%
Loan To Value (LTV)*
67%
Key Loan Details
Annual interest
£58,850
Security
1st Legal charge
Guarantee
Personal guarantee for the full amount of capital and interest due under the loan.
Additional collateral
Debenture from the Borrower
Interest serviceability
Interest retained from loan proceeds for the loan term
Capital Repayment
From the sale of the completed properties
Purpose of loan
Refinance and redevelopment
Key Property Details
Valuation
£800,000
Use
Residential
Location
Hertfordshire
Virtual Data Room
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