Post by eeyore on Jul 14, 2021 17:50:37 GMT
New 36-month commercial term loan for Doncaster I*** R*** (PLL0999) has been announced.
Total loan: £840,000 LTV: 70%
Tranche A: £600k @ 6.7% gross (No Cap)
Tranche B: £180k @ 9.0% gross (Capped at £2k)
Tranche C: £60k @ 11.0% gross (Capped at £1k)
The purpose of the loan is to raise funds to redeem the existing Doncaster I*** loan with Proplend and for further property investment.
The security is a first legal charge on the freehold of a property comprising five tenanted industrial units.
The strategy is to maximise rental income; the exit strategy is to refinance the loan at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 14-July).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 15-July and allocation will take place on Friday 16-July.
Comment: the valuation for the property has doubled in two years since the valuation for the original loan in 2019.
Total loan: £840,000 LTV: 70%
Tranche A: £600k @ 6.7% gross (No Cap)
Tranche B: £180k @ 9.0% gross (Capped at £2k)
Tranche C: £60k @ 11.0% gross (Capped at £1k)
The purpose of the loan is to raise funds to redeem the existing Doncaster I*** loan with Proplend and for further property investment.
The security is a first legal charge on the freehold of a property comprising five tenanted industrial units.
The strategy is to maximise rental income; the exit strategy is to refinance the loan at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 14-July).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 15-July and allocation will take place on Friday 16-July.
Comment: the valuation for the property has doubled in two years since the valuation for the original loan in 2019.