Post by eeyore on Aug 16, 2021 20:42:25 GMT
New 36-month commercial term loan for Malvern I*** R*** (PLL1007) has been announced.
Total loan: £483,740 LTV: 67%
Tranche A: £361k @ 6.70% gross (Cap: £1k)
Tranche B: £108.3k @ 9.55% gross (Cap: £1k)
Tranche C: £14.44k @ 10.45% gross (Cap: £1k)
The purpose of the loan is to refinance the existing three-year Proplend loan: Malvern I*** & P*** G*** H***.
The security comprises two properties:
- pub/restaurant with four bedrooms in Malvern
- Twelve-bedroom guesthouse in Porthcawl with an adjacent campsite
The strategy is to continue to lease the properties and eventually to refinance the loan with a bank.
See the full loan request and valuation report for details which are available on the website.
[Note: the original Malvern I*** & P*** G*** H*** loan was drawndown in June 2018, the total loan was for £470k with an LTV of 71% and the interest rates for the tranches were 7.5%, 10.5% & 15.14%.]
Allocation of TrancheA funds for Always-On lenders will have already taken place (Monday 16-Aug).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Tuesday 17-Aug and allocation for all three tranches will take place on Wednesday 18-Aug.
Total loan: £483,740 LTV: 67%
Tranche A: £361k @ 6.70% gross (Cap: £1k)
Tranche B: £108.3k @ 9.55% gross (Cap: £1k)
Tranche C: £14.44k @ 10.45% gross (Cap: £1k)
The purpose of the loan is to refinance the existing three-year Proplend loan: Malvern I*** & P*** G*** H***.
The security comprises two properties:
- pub/restaurant with four bedrooms in Malvern
- Twelve-bedroom guesthouse in Porthcawl with an adjacent campsite
The strategy is to continue to lease the properties and eventually to refinance the loan with a bank.
See the full loan request and valuation report for details which are available on the website.
[Note: the original Malvern I*** & P*** G*** H*** loan was drawndown in June 2018, the total loan was for £470k with an LTV of 71% and the interest rates for the tranches were 7.5%, 10.5% & 15.14%.]
Allocation of TrancheA funds for Always-On lenders will have already taken place (Monday 16-Aug).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Tuesday 17-Aug and allocation for all three tranches will take place on Wednesday 18-Aug.
