Cheltenham (Swindon Village) Development Stage 5 Loan (RSP) - B (EIR 8.51%)
Senior Tranche
To fund the continued development of a plot of land in Swindon Village, Cheltenham for the construction of 5 detached houses. EIR is the Effective Interest Rate and assumes the re-investment of quarterly interest receipts into loans on the Relendex platform offering an equivalent interest rate as below.
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
£98,500
Loan Term
8 Months
Lender Interest Rate
8.25%
Loan To Value (LTV)*
67%
Key Loan Details
Annual interest
£8,126
Security
1st legal charge over the Property
Guarantee
Guarantee from the director for 20% of the capital value of the loan plus interest
Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the loan
Capital Repayment
Sale on completion
Purpose of loan
Development
Key Property Details
Valuation
£3,125,000
Use
Residential
Location
South West
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
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