Auction Details - Llandudno Residential Bridging Loan

LOAN AMOUNT
£1,900,000
LOAN TERM
12 months
LENDER INTEREST RATE
10% p.a.
LOAN TO VALUE (LTV)
66%
Llandudno Residential Bridging Loan

Refinance of 9 newly redeveloped apartments in a superb sea front location in North Wales, with 3 apartments pre-sold.
KEY LOAN DETAILS
Annual interest:
£218,500
Security:
1st legal charge
Guarantee:
Yes - Personal guarantee for 25% of loan capital and interest due under the loan
Additional collateral:
Yes - Debenture from the Borrower
Interest serviceability:
From retained loan proceeds
Capital repayment:
From the sale of the individual apartments
Purpose of loan:
Refinance
KEY PROPERTY DETAILS
Valuation:
£2,863,000
Use:
Refinance
Location:
North Wales


These Auction Details for an Upcoming Auction do not constitute an offer or a contract and are provided for information only. Registered lenders who wish to participate in this forthcoming loan auction (once listed as a live auction) are invited to view the full Auction Particulars in the Auction Marketplace and will be bound by the Lender Terms & Conditions and Loan Conditions referred to therein.

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