Gosport (Priddys Hard) Residential Development Loan (RSP) (G) - Stage 6
To continue to fund the construction of 21 houses
Loan Amount
£300,000
Loan Term
12 Months
Lender Interest Rate
6.5%
Loan To Value (LTV)*
50%
Key Loan Details
Annual interest
£19,500
Security
1st charge over the property
Guarantee
From the borrower for £250,000 of the capital value of the loan plus all interest accrued and cost overruns
Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the loan
Capital Repayment
Sale of the units on completion
Purpose of loan
Development
Key Property Details
Valuation
£7,910,000
Use
Residential
Location
Hampshire
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