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Portslade (Mile Oak Road) Residential Development Stage 3 Loan (RSP) (EIR 7.71%) - A
Senior Tranche


To fund the continued construction of 4 houses and 3 apartments in Portslade, Brighton. 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
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Loan Amount
£358,000
Loan Term
6 Months
Lender Interest Rate
7.5%
Loan To Value (LTV)*
50%
Key Loan Details

Annual interest
£26,850

Security
1st Legal Charge

Guarantee
Personal Guarantee from the director for the capital value of the loan plus interest and cost overruns

Interest serviceability
From retained loan proceeds for the term of the loan

Capital Repayment
Sale of the units on completion

Purpose of loan
Development
Key Property Details

Valuation
£2,985,000

Use
Residential

Location
South East
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Relendex Limited is registered in England, Company Number 07486328
Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

Important Notice

Relendex Limited is authorised and regulated by the Financial Conduct Authority (FRN: 723117).

Lenders participating in these arrangements should be clearly aware that any sum lent through the Exchange is a loan and not a deposit and its repayment is not guaranteed. It is in the nature of an investment opportunity. Any investor should consider an appropriate spread of risk. Non-institutional investors should seek professional advice before lending through the Relendex Exchange.

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