Post by eeyore on Sept 28, 2021 15:34:30 GMT
New 12-month commercial bridge loan for Peterborough L*** Refinance (PLL??) has been announced.
Total loan: £319,600 LTV: 68%
Tranche A: £235k @ 8.01% gross (Cap £1k)
Tranche B: £70.5k @ 11% gross (Cap £1k)
Tranche C: £14.1k @ 12.78% gross (Cap £1k)
This loan is to refinance the existing Proplend loan Peterborough L***.
The security is a plot of land on a retail site adjacent to Peterbough R***.
The strategy is to obtain planning consent for residential development.
The exit strategy is to redeem the loan on sale of the property.
See the full loan request and valuation report for details which are available on the website.
Note: There is discussion on the original Peterborough R*** & L*** loans here: p2pindependentforum.com/thread/16882/new-loan
Allocation of TrancheA funds for Always-On lenders has already taken place (Tuesday 28-Sep).
Tranches A, B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 29-Sep and allocation will take place on Thursday 30-Sep.
Update: Loan repaid on 29-Nov-2022
Total loan: £319,600 LTV: 68%
Tranche A: £235k @ 8.01% gross (Cap £1k)
Tranche B: £70.5k @ 11% gross (Cap £1k)
Tranche C: £14.1k @ 12.78% gross (Cap £1k)
This loan is to refinance the existing Proplend loan Peterborough L***.
The security is a plot of land on a retail site adjacent to Peterbough R***.
The strategy is to obtain planning consent for residential development.
The exit strategy is to redeem the loan on sale of the property.
See the full loan request and valuation report for details which are available on the website.
Note: There is discussion on the original Peterborough R*** & L*** loans here: p2pindependentforum.com/thread/16882/new-loan
Allocation of TrancheA funds for Always-On lenders has already taken place (Tuesday 28-Sep).
Tranches A, B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 29-Sep and allocation will take place on Thursday 30-Sep.
Update: Loan repaid on 29-Nov-2022
