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
Virtual Data Room
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