Post by bengilbert on Oct 5, 2016 18:17:08 GMT
Upcoming loans
Residential development in Sandbanks. Loan amount c. £250,000, current LTV 59.8%, LTV capped at 69.5% during the development, 12 month term.
Current loans
B******l Road, Sandbanks (BPF373 & 383 - now BPF543)
Loan extended for 6 months, with all investors wishing to exit on the original end date repaid.
The borrowers have been asked to submit an additional Tree Report, which is due back this week. Beyond this, the only thing outstanding before submitting the planning application is to finalise the affordable housing contribution, which is in the final stages of negotiation with the council.
Residential Development - Streatham (BPF397)
The borrowers have received approval in principle from their bank on refinancing the loan. There is also interest in the property from buyers, so the borrowers intend to establish the highest sale price they can achieve now before deciding whether to sell or begin the refinance process.
Sutton Coldfield Bridging Loan (BPF479)
Lloyds have indicated that they are happy in principle to refinance but cannot initiate the process until the borrower has owned the property for six months. The borrower is considering selling the property before this date.
M***** H*** Development Loan (BPF407, 501 & 526)
Work proceeds on the main building. A further tranche is going live this week. We have commissioned a full report on progress from an independent loan monitoring company which will be made available to lenders later in the month. The inspection has taken place and the inspector has sent us his conclusion: 'The development appears to be well planned and works are being completed to schedule. The developer has a good understanding of the development and is fully aware of works and costs required. Once completed this development will be well suited to this location.'
W***n Hotel Development (BPF528)
Work continues on the development. A further drawdown of around £110,000 is expected within the next few weeks after the valuer has visited.
Lut** Bridging Loan (BPF534)
Drawn down last month.
Residential development in Birk**** (BPF536, 537, 541 & 542)
Drawn down last month.
Residential development in Sandbanks. Loan amount c. £250,000, current LTV 59.8%, LTV capped at 69.5% during the development, 12 month term.
Current loans
B******l Road, Sandbanks (BPF373 & 383 - now BPF543)
Loan extended for 6 months, with all investors wishing to exit on the original end date repaid.
The borrowers have been asked to submit an additional Tree Report, which is due back this week. Beyond this, the only thing outstanding before submitting the planning application is to finalise the affordable housing contribution, which is in the final stages of negotiation with the council.
Residential Development - Streatham (BPF397)
The borrowers have received approval in principle from their bank on refinancing the loan. There is also interest in the property from buyers, so the borrowers intend to establish the highest sale price they can achieve now before deciding whether to sell or begin the refinance process.
Sutton Coldfield Bridging Loan (BPF479)
Lloyds have indicated that they are happy in principle to refinance but cannot initiate the process until the borrower has owned the property for six months. The borrower is considering selling the property before this date.
M***** H*** Development Loan (BPF407, 501 & 526)
Work proceeds on the main building. A further tranche is going live this week. We have commissioned a full report on progress from an independent loan monitoring company which will be made available to lenders later in the month. The inspection has taken place and the inspector has sent us his conclusion: 'The development appears to be well planned and works are being completed to schedule. The developer has a good understanding of the development and is fully aware of works and costs required. Once completed this development will be well suited to this location.'
W***n Hotel Development (BPF528)
Work continues on the development. A further drawdown of around £110,000 is expected within the next few weeks after the valuer has visited.
Lut** Bridging Loan (BPF534)
Drawn down last month.
Residential development in Birk**** (BPF536, 537, 541 & 542)
Drawn down last month.
