Post by eeyore on Oct 20, 2022 8:41:28 GMT
New 36-month commercial term loan for Smethwick R*** 2 has been announced.
Total loan: £952,250 LTV: 65%
Tranche A: £732.5k @ 6.4% gross (Cap £1k)
Tranche B: £219.75k @ 7.26% gross (Cap £1k)
The security is four retail outlets in the West Midlands and all are currently tenanted. The purpose of the loan is to raise funds to purchase the properties as long-term investments. The proposed borrower has a recent Proplend loan: Smethwick R*** 1.
The borrower expects to refinance this loan on a long-term mortgage.
See the full loan request and valuation reports for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 19-Oct). Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 20-Oct.
Total loan: £952,250 LTV: 65%
Tranche A: £732.5k @ 6.4% gross (Cap £1k)
Tranche B: £219.75k @ 7.26% gross (Cap £1k)
The security is four retail outlets in the West Midlands and all are currently tenanted. The purpose of the loan is to raise funds to purchase the properties as long-term investments. The proposed borrower has a recent Proplend loan: Smethwick R*** 1.
The borrower expects to refinance this loan on a long-term mortgage.
See the full loan request and valuation reports for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 19-Oct). Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 20-Oct.