Auction Details - Stockport Residential Conversion Loan

LOAN AMOUNT
£1,000,000
LOAN TERM
12 months
LENDER INTEREST RATE
8.75% p.a.
LOAN TO VALUE (LTV)
65%
Stockport Residential Conversion Loan

Loan to finance the acquisition and conversion of former office premises in Stockport town centre into 12 apartments for retention for letting purposes.
KEY LOAN DETAILS
Annual interest:
£100,000
Security:
1st legal charge
Guarantee:
Yes - Personal guarantee for a limited extent of capital and interest due under the loan
Additional collateral:
Yes - Debenture from the borrowing company
Interest serviceability:
Interest serviced by proceeds retained from the loan
Capital repayment:
By a refinance of the Property on completion with a term funder.
Purpose of loan:
Refinance
KEY PROPERTY DETAILS
Estimated value:
£1,540,000
Use:
Residential
Location:
North West


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.

Important Notice

 

Relendex Limited is regulated in the United Kingdom by the Financial Conduct Authority and entered on the Financial Services Register - 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.
View Notice in full

 

Relendex Limited is registered in England, Company Number 07486328 Registered Office: Ground Floor, 45 Pall Mall, St James’s London, SW1Y 5JG

 

Relendex Limited is registered under the Data Protection Act, Registration Number PZ2708231

 

 


Grow Your Money