Wirral Residential Development Loan
Loan to refinance an existing Relendex loan and to provide funds to complete the 1st phase redevelopment of 11 apartments.
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Loan Amount
£780,000
Loan Term
15 months
Lender Interest Rate
8.5%
Loan To Value (LTV)*
65%
Key Loan Details
Annual interest
£81,900
Security
1st legal charge
Guarantee
Personal guarantee for the full capital and interest due
Additional collateral
Debenture from the SPV borrower entity
Interest serviceability
Interest retained from loan proceeds for the term of the loan
Capital Repayment
From the sale of the completed residential units
Purpose of loan
Refinance & Redevelopment
Key Property Details
Valuation
£1,900,000
Use
Residential
Location
North West
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