eeyore
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Post by eeyore on Sept 9, 2021 16:41:36 GMT
New 36-month commercial term loan for Grantham C*** M*** U*** (PLL0950) has been announced.
Total loan: £288,750 LTV: 50% Tranche A: £288.75k @ 7% gross (Cap £?k)
The security is three industrial units in two separate buildings on an industrial estate owned by a family borrowing in a personal capacity. The units tenanted by six small businesses. The purpose of 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 exit strategy is expected to be to refinance the loan towards 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 the Always-On lenders has already taken place (Thursday 9-Sep). Tranche A will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 10-Sep and allocation will take place on Monday 13-Sep.
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