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Tunbridge Wells (Chilston Road) Residential Development Stage 1 Loan - (EIR 9.04%) B
Senior Tranche


Repayment of private investor and the construction of 11 apartments in accordance with planning permission. 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.

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Loan Amount
£341,000
Loan Term
12 Months
Lender Interest Rate
8.75%
Loan To Value (LTV)*
65%
Key Loan Details

Annual interest
£29,838

Security
1st legal charge over the Property

Guarantee
From the directors for the capital value of the loan plus interest and cost overruns.

Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the loan

Capital Repayment
Sale or refinance the completed units

Purpose of loan
Development
Key Property Details

Valuation
£2,945,000

Use
Residential

Location
South East
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