Worthing (Byron Road) Residential Development Loan
Junior Tranche
Currently a plot of land on which a 2 bed detached house will be constructed
Interested in this loan? Check the Resale Marketplace for availability
IMPORTANT
For more information to help you understand the relative risks of Junior and Senior Tranche Loans - Click Here
For more information to help you understand the relative risks of Junior and Senior Tranche Loans - Click Here
Loan Amount
£80,000
Loan Term
9 months
Lender Interest Rate
10%
Loan To Value (LTV)*
70%
Key Loan Details
Annual interest
£8,000
Security
1st Legal Charge
Guarantee
Personal Guarantees From the directors for the capital value of the loan plus interest and cost overruns
Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the Loan
Capital Repayment
Sale of the unit upon completion
Purpose of loan
To purchase a plot of land and provide funds for the subsequent development of a 2 bed detached house
Key Property Details
Valuation
£350,000
Use
Residential
Location
South
Virtual Data Room
Registered(Approved) Lenders may view Loan Documents such as the Valuation Report in more detail in our Virtual Data Room - hosted online by Box
Please contact Lender Support if you don't have access to Box
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If you would like to able to view the Loan Documents
