Wirral Residential Bridging Loan


Bridging loan to refinance a substantial Victorian merchant's house in a good location in Birkenhead, Wirral with planning for conversion into apartments and for new build houses and apartments in the grounds.

Loan Amount
£575,000
Loan Term
12 months
REPAID
Lender Interest Rate
8.25% p.a.
Loan To Value (LTV)
52%
Key Loan Details

Annual interest
£57,500

Security
1st legal charge

Guarantee
Personal guarantee for a limited extent of capital and interest due under the loan

Additional collateral
Debenture from the borrowing company

Interest serviceability
Interest serviced by proceeds retained from the loan

Capital Repayment
By a sale of the Property as a development oppotunity with the benefit of the current planning consent.

Purpose of loan
Refinance
Key Property Details

Valuation
£1,100,000

Use
Residential

Location
North West
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