Post by eeyore on Sept 21, 2022 11:12:54 GMT
New 36-month commercial term loan for Burnt O*** M*** U*** has been announced.
Total loan: £269,100 LTV: 69%
Tranche A: £195k @ 6.10% gross (Fully funded)
Tranche B: £58.5k @ 7.75% gross (Cap: £1k)
Tranche C: £15.6k @ 9.40% gross (Cap: £1k)
The purpose of the loan is to refinance an existing loan.
The security is a two-storey mid-terrace building with a ground-floor retail unit and a single apartment above. The retail unit and the apartment are leased separately but to the same tenant.
The strategy will be to maintain the current leases and possibly to extend the ground-floor to increase rental income. In the longer term, the borrower may have the opportunity to sell the property for redevelopment of the whole terrace.
See the full loan request and valuation report for details which are available on the website.
Allocation of the entire TrancheA for Always-On lenders has already taken place (Wednesday 21-Sep). Tranches B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 23-Sep.
The loan was drawn down yesterday and will mature on 26-Sep-2025.
Total loan: £269,100 LTV: 69%
Tranche A: £195k @ 6.10% gross (Fully funded)
Tranche B: £58.5k @ 7.75% gross (Cap: £1k)
Tranche C: £15.6k @ 9.40% gross (Cap: £1k)
The purpose of the loan is to refinance an existing loan.
The security is a two-storey mid-terrace building with a ground-floor retail unit and a single apartment above. The retail unit and the apartment are leased separately but to the same tenant.
The strategy will be to maintain the current leases and possibly to extend the ground-floor to increase rental income. In the longer term, the borrower may have the opportunity to sell the property for redevelopment of the whole terrace.
See the full loan request and valuation report for details which are available on the website.
Allocation of the entire TrancheA for Always-On lenders has already taken place (Wednesday 21-Sep). Tranches B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 23-Sep.
The loan was drawn down yesterday and will mature on 26-Sep-2025.