Post by eeyore on Apr 15, 2021 8:41:57 GMT
New 24-month commercial term loan for Spalding M*** U*** has been announced.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 14-April).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 15-April and allocation of TrancheB Self-Select funds will take place on Friday 16-April. The availability of this loan for non-Auto-Lenders is unlikely.
Total loan: £223,600 LTV: 65%
Tranche A: £172k @ 6.7% gross (Capped at £1k)
Tranche B: £51.6k @ 9.95% gross (Capped at £1k)
The security is a first legal charge on a two-storey house currently divided into two flats, together with associated workshops.
The loan is to refinance an existing loan and to raise capital for further acquisitions.
The exit strategy is to find a long-term commercial mortgage.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 14-April).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 15-April and allocation of TrancheB Self-Select funds will take place on Friday 16-April. The availability of this loan for non-Auto-Lenders is unlikely.
Total loan: £223,600 LTV: 65%
Tranche A: £172k @ 6.7% gross (Capped at £1k)
Tranche B: £51.6k @ 9.95% gross (Capped at £1k)
The security is a first legal charge on a two-storey house currently divided into two flats, together with associated workshops.
The loan is to refinance an existing loan and to raise capital for further acquisitions.
The exit strategy is to find a long-term commercial mortgage.
See the full loan request and valuation report for details which are available on the website.
