Post by eeyore on Jun 13, 2022 13:34:05 GMT
New 36-month commercial term loan for Cotswolds M*** U*** (PL) has been announced.
Total loan: £350,000 LTV: 41%
Tranche A: £350k @ 5.88% gross
The purpose of the loan is to refinance existing loans incurred in purchasing and refurbishing the property.
The security is the freehold of a Grade-II property in the centre of Chipping Campden currently trading as a cafe. The property is tenanted by a business owned by the borrower which also operates a nearby restaurant.
The strategy is to build the business and to refinance with a longer-term amortising loan.
See the full loan request and valuation report for details which are available on the website.
Note: The loan's property details originally quoted a gross interest rate of 6.4%, now reduced to 5.88% gross (5.29% net).
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 25-Aug) and TrancheA may now be fully-funded.
Update: This loan was drawn down on 26-Aug and will mature on 26-Aug-2025.
Total loan: £350,000 LTV: 41%
Tranche A: £350k @ 5.88% gross
The purpose of the loan is to refinance existing loans incurred in purchasing and refurbishing the property.
The security is the freehold of a Grade-II property in the centre of Chipping Campden currently trading as a cafe. The property is tenanted by a business owned by the borrower which also operates a nearby restaurant.
The strategy is to build the business and to refinance with a longer-term amortising loan.
See the full loan request and valuation report for details which are available on the website.
Note: The loan's property details originally quoted a gross interest rate of 6.4%, now reduced to 5.88% gross (5.29% net).
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 25-Aug) and TrancheA may now be fully-funded.
Update: This loan was drawn down on 26-Aug and will mature on 26-Aug-2025.