Post by eeyore on Mar 24, 2021 15:32:14 GMT
New 24-month commercial loan for Hackney O*** will be officially be available on the morning of Friday 26-March-2021.
Total loan: £855,500 LTV: 59%
Tranche A: £725k @ 6.59% gross (Capped at £1,000)
Tranche B: £130.5k @ 9.01% gross (Capped at £1,000)
The loan is for the re-finance of an existing loan on the property. The exit strategy is to re-mortgage.
The security is a first legal charge on a leasehold interest in two office suites on the lower floors of a multi-storey terraced building (which has flats on the upper floors). One of the office suites is occupied by an associated business owned by the borrowers.
See the full loan request and valuation report for details which are now available on the website.
This is the first Proplend loan subject to Auto-Lend 2.0. Funds for 'Always-On' lenders have already been allocated from TrancheA.
Allocation of TrancheA funds for "Always-On" lenders has already taken place (Wed 24-March). Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 25-March.
Update 13-June-2023: Following the draw-down of the Hackney O*** Refinance loan, this loan, originally due to mature on 12-April, was repaid in full today, with 62 days of penalty interest (£5.67/£1000 TrancheA).
Total loan: £855,500 LTV: 59%
Tranche A: £725k @ 6.59% gross (Capped at £1,000)
Tranche B: £130.5k @ 9.01% gross (Capped at £1,000)
The loan is for the re-finance of an existing loan on the property. The exit strategy is to re-mortgage.
The security is a first legal charge on a leasehold interest in two office suites on the lower floors of a multi-storey terraced building (which has flats on the upper floors). One of the office suites is occupied by an associated business owned by the borrowers.
See the full loan request and valuation report for details which are now available on the website.
This is the first Proplend loan subject to Auto-Lend 2.0. Funds for 'Always-On' lenders have already been allocated from TrancheA.
Allocation of TrancheA funds for "Always-On" lenders has already taken place (Wed 24-March). Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 25-March.
Update 13-June-2023: Following the draw-down of the Hackney O*** Refinance loan, this loan, originally due to mature on 12-April, was repaid in full today, with 62 days of penalty interest (£5.67/£1000 TrancheA).