Worthing (Poulters Lane) Residential Mezzanine Stage 2 Loan


Stage 2 funding for the continued refurbishment of existing dwelling and the construction of 2 new build properties in the grounds.

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Loan Amount
£265,000
Loan Term
10 Months
Lender Interest Rate
10.25%
Loan To Value (LTV)*
68%
Key Loan Details

Annual interest
£27,162

Security
2nd 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 quartley in arrears from proceeds retained from the Loan

Capital Repayment
Sale of the units upon completion

Purpose of loan
Stage 2 funding for the continued refurbishment of the existing dwelling and construction of 2 new build properties
Key Property Details

Valuation
£1,425,000

Use
Residential

Location
South
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Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

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