eeyore
Member of DD Central
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Post by eeyore on Apr 21, 2021 17:32:53 GMT
New 36-month commercial mortgage loan for Grantham C*** M*** U*** has been announced.
Total loan: £288,750 LTV: 50% Tranche A: £288.75k @ 7% gross (Capped at £1k)
The security is a first legal charge on three light industrial units, all of which are currently tenanted. The loan is to refinance an existing loan with a high-street bank. The strategy is to maintain the buildings and to maximise rental income; the loan is likely to be refinanced at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Comment: An email advising Self-Select lenders of the loan has been issued with a allocation time on Friday 23-April, but it seems to be unlikely that there will be any funds available for Self-Select lenders - Always-On lenders will almost certainly have been allocated the totality of the only tranche: TrancheA. Has anyone had an email to say that they have been allocated funds in TrancheA?
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