eeyore
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Post by eeyore on Jan 24, 2022 12:03:47 GMT
New 36-month commercial term loan for Carshalton M*** U*** (PL??) has been announced.
Total loan: £370,500 LTV: 65% Tranche A: £285k @ 6.7% gross Tranche B: £85.5k @ 8.52% gross
The purpose of the loan is to raise funds to purchase the property. The security is the freehold on a semi-detached building with commercial use on the ground floor and residential use on the first floor. The strategy is to obtain planning consent for redevelopment. If achieved, the borrower will refinance the loan; if not achieved, the property will be sold. A tenancy of the ground floor has been agreed in principle for use as storage. The residential unit is untenanted and requires some refurbishment.
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 (Monday 24-Jan). Tranche B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Tuesday 25-Jan and allocation will take place on Wednesday 26-Jan. Note: The interest rate for TrancheB quoted in the Self-Select email is incorrect: The gross rate is 8.52% and the net rate is 7.67%.
Update: The loan has drawn down today (27-Jan-2022) with the end date of 27-Jan-2025
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Post by gramsky on Jan 24, 2022 17:02:37 GMT
Why can't I Self Select Tranche 'A' ?
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Post by Ace on Jan 24, 2022 17:24:31 GMT
Why can't I Self Select Tranche 'A' ? Because tranche A is already fully funded.
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eeyore
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Post by eeyore on Jan 24, 2022 17:25:32 GMT
Why can't I Self Select Tranche 'A' ? Because all TrancheA of the loan has already been allocated to Always-On lenders? This afternoon's email about the availability of TrancheB for Self-Select lenders indicates that TrancheA is "Fully Funded".
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huxs
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Post by huxs on Jan 24, 2022 17:53:39 GMT
Why can't I Self Select Tranche 'A' ? Because all TrancheA of the loan has already been allocated to Always-On lenders? This afternoon's email about the availability of TrancheB for Self-Select lenders indicates that TrancheA is "Fully Funded". Given its only 85K in tranche B then the chance of getting a bite are small !!
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Post by Ace on Jan 24, 2022 17:56:24 GMT
I was told that the D****shire refinance is imminent. Plenty to chew on there as we can't rollover.
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Post by uksoul on Jan 24, 2022 23:27:00 GMT
I was told that the D****shire refinance is imminent. Plenty to chew on there as we can't rollover. I was told the same same today..
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bababill
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Post by bababill on Jan 25, 2022 5:39:42 GMT
Any one know why A. W&*d has left Proplend?
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ukinvestor
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Post by ukinvestor on Jan 25, 2022 15:29:15 GMT
I was told that the D****shire refinance is imminent. Plenty to chew on there as we can't rollover. I was told the same same today.. Tranche A allocated this morning...
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Post by uksoul on Jan 25, 2022 19:02:42 GMT
I was told the same same today.. Tranche A allocated this morning... That is the autolend, they get their lot early.
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eeyore
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Post by eeyore on Jan 27, 2022 17:58:34 GMT
Another borrower in a hurry to get their hands on our money! The loan has drawn down today.
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