Post by eeyore on Mar 17, 2021 11:44:29 GMT
New 9-month bridging loan for Woldingham C*** M*** U*** will be available on Thursday 18-March. Lenders' loans for TrancheA will be capped at £1,000.
Total loan: £269,750 LTV: 65%
Tranche A: £207.5k @ 9.52% gross (Capped at £1,000)
Tranche B: £62.25k @ 11.43% gross
The security is a first legal charge on part of a newly-built three-storey building with a 999-year lease, comprising an office unit and a retail unit on the ground-floor. The upper floors have nine residential flats and are not part of the security. The exit strategy is to sell one of the commercial units and the flats.
Proplend will retain 12 months of interest for lenders' monthly payments.
See the full loan request and valuation report for details.
Once again, Proplend expect the entire loan will be filled by Auto-Lend, even with a £1,000 limit.
Auto-Lend 2.0 is expected to be implemented on Friday 19-March.
Update: Loan redeemed on 25-May-2022
Total loan: £269,750 LTV: 65%
Tranche A: £207.5k @ 9.52% gross (Capped at £1,000)
Tranche B: £62.25k @ 11.43% gross
The security is a first legal charge on part of a newly-built three-storey building with a 999-year lease, comprising an office unit and a retail unit on the ground-floor. The upper floors have nine residential flats and are not part of the security. The exit strategy is to sell one of the commercial units and the flats.
Proplend will retain 12 months of interest for lenders' monthly payments.
See the full loan request and valuation report for details.
Once again, Proplend expect the entire loan will be filled by Auto-Lend, even with a £1,000 limit.
Auto-Lend 2.0 is expected to be implemented on Friday 19-March.
Update: Loan redeemed on 25-May-2022