Post by eeyore on Mar 30, 2021 13:55:26 GMT
New 36-month commercial term loan for Twickenham O*** will be officially available on the morning of Thursday 1-April. Allocation of TrancheA funds for "Always-On" lenders has already taken place (Tue 30-March). Funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 31-March.
Total loan: £220,500 LTV: 70%
Tranche A: £157.5k @ 6.11% gross (Capped at £1,000)
Tranche B: £47.25k @ 8.5% gross (Capped at £1,000)
Tranche C: £15.75k @ 10% gross (Capped at £1,000)
The loan is for the re-finance of an existing loan and to raise capital. The exit strategy is to expand the business and to invest in further properties.
The security is a first legal charge on the freehold of a two-storey terraced building. The ground-floor is a retail unit occupied by a tenant co-owned by the borrower. The upper-floor has a flat on a long-lease which is not included in the security.
See the full loan request and valuation report for details which are now available on the website.
Update 7-April: Loan withdrawn before draw-down. Funds returned to lenders.
Total loan: £220,500 LTV: 70%
Tranche A: £157.5k @ 6.11% gross (Capped at £1,000)
Tranche B: £47.25k @ 8.5% gross (Capped at £1,000)
Tranche C: £15.75k @ 10% gross (Capped at £1,000)
The loan is for the re-finance of an existing loan and to raise capital. The exit strategy is to expand the business and to invest in further properties.
The security is a first legal charge on the freehold of a two-storey terraced building. The ground-floor is a retail unit occupied by a tenant co-owned by the borrower. The upper-floor has a flat on a long-lease which is not included in the security.
See the full loan request and valuation report for details which are now available on the website.
Update 7-April: Loan withdrawn before draw-down. Funds returned to lenders.