Post by eeyore on Sept 17, 2021 12:17:21 GMT
New 36-month commercial term loan for Berkhamsted R*** C*** M*** (PLL1018) has been announced.
Total loan: £757,250 LTV: 65%
Tranche A: £582.5k @ 6.7% gross (Cap £1k)
Tranche B: £174.75k @ 8.91% gross (Cap £1k)
The purpose of the loan is to raise funds to repay an existing loan with a high-street bank and to pay for recent refurbishment.
The security is the freehold on two-storey mid-terrace premises currently trading as a restaurant.
The borrower is a company owned by three siblings and the property has been tenanted for the last three years by another company owned and operated by the family.
The strategy is to develop the business and to redeem the loan at the end of its term either by refinancing with a long-term lender or to sell the property.
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 (Friday 17-Sep).
Tranches A & B will be available for Self-Select capped at £1,000 - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 20-Sep and allocation will take place on Tuesday 21-Sep.
Total loan: £757,250 LTV: 65%
Tranche A: £582.5k @ 6.7% gross (Cap £1k)
Tranche B: £174.75k @ 8.91% gross (Cap £1k)
The purpose of the loan is to raise funds to repay an existing loan with a high-street bank and to pay for recent refurbishment.
The security is the freehold on two-storey mid-terrace premises currently trading as a restaurant.
The borrower is a company owned by three siblings and the property has been tenanted for the last three years by another company owned and operated by the family.
The strategy is to develop the business and to redeem the loan at the end of its term either by refinancing with a long-term lender or to sell the property.
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 (Friday 17-Sep).
Tranches A & B will be available for Self-Select capped at £1,000 - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 20-Sep and allocation will take place on Tuesday 21-Sep.