Post by eeyore on Oct 21, 2022 10:18:51 GMT
New 36-month commercial term loan for Deal R*** has been announced.
Total loan: £520,000 LTV: 65%
Tranche A: £400k @ 6.34% gross (Fully funded)
Tranche B: £120k @ 7.9% gross (Cap: £1k)
The purpose of the loan is to raise funds to purchase a three-storey with basement retail outlet in a pedestrianised shopping street as a long-term investment. The property is currently leased to a national clothing retail, expiring in May 2027.
The borrower expects to refinance this loan on a long-term mortgage.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Friday 21-Oct)and is now fully funded. Tranche B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 24-Oct.
Total loan: £520,000 LTV: 65%
Tranche A: £400k @ 6.34% gross (Fully funded)
Tranche B: £120k @ 7.9% gross (Cap: £1k)
The purpose of the loan is to raise funds to purchase a three-storey with basement retail outlet in a pedestrianised shopping street as a long-term investment. The property is currently leased to a national clothing retail, expiring in May 2027.
The borrower expects to refinance this loan on a long-term mortgage.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Friday 21-Oct)and is now fully funded. Tranche B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 24-Oct.