Post by eeyore on Nov 17, 2022 20:18:43 GMT
New 36-month commercial term loan for Tipton P*** S*** Refinance (PL) is now available. Lenders for the existing loan have been invited to roll-over their current holdings before end of Sunday 20-Nov.
Total loan: £630,000 LTV: 63%
Tranche A: £500k @ 7.0% gross (Cap £2k)
Tranche B: £130k @ 8.79% gross (Cap £1k)
The loan is to refinance an existing three-year loan at Proplend (https://p2pindependentforum.com/thread/18020/new-loan-pl) which is being refinanced a year early.
The security is a petrol filling-station and convenience shop together with a tyre fitting-station on the same site in the West Midlands. There are two tenants with long leases. The strategy is to maintain the existing leases to maximise rental income. The loan is expected to be refinanced at the end of its term.
The borrower also has the Wolverhampton P*** S*** loan at Proplend which is also expected to be refinanced shortly.
Total loan: £630,000 LTV: 63%
Tranche A: £500k @ 7.0% gross (Cap £2k)
Tranche B: £130k @ 8.79% gross (Cap £1k)
The loan is to refinance an existing three-year loan at Proplend (https://p2pindependentforum.com/thread/18020/new-loan-pl) which is being refinanced a year early.
The security is a petrol filling-station and convenience shop together with a tyre fitting-station on the same site in the West Midlands. There are two tenants with long leases. The strategy is to maintain the existing leases to maximise rental income. The loan is expected to be refinanced at the end of its term.
The borrower also has the Wolverhampton P*** S*** loan at Proplend which is also expected to be refinanced shortly.
See the full loan request and valuation report for details which are available on the website.
Update: Both Tranches A and B of this loan are available for Self-Select. Funds for Self-Select need to be in the cash account by 17:30 on Wednesday 23-Nov.
Update: This loan was drawn down on 24-Nov and will be due for repayment on 24-Nov-2025.