Post by eeyore on Feb 16, 2022 10:57:26 GMT
New 24-month commercial term loan for Middleton M*** U*** (PLL??) has been announced.
Total loan: £275,600 LTV: 53%
Tranche A: £260k @ 6.48% gross (Cap £1k)
Tranche B: £15.6k @ 8.6% gross (Cap £1k)
The purpose of this loan is to raise capital to repay existing loans. The security is a leasehold property, comprising a groundfloor convenience store and a restaurant, with four residential flats on the upper floors. All the units are currently tenanted (with the restaurant being tenanted by the borrower and a family member).
The exit strategy is to sell the property, failing that to refinance the loan.
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 16-Feb) and TrancheA is now fully funded. TrancheB will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 17-Feb and allocation will take place on Friday 18-Feb.
Total loan: £275,600 LTV: 53%
Tranche A: £260k @ 6.48% gross (Cap £1k)
Tranche B: £15.6k @ 8.6% gross (Cap £1k)
The purpose of this loan is to raise capital to repay existing loans. The security is a leasehold property, comprising a groundfloor convenience store and a restaurant, with four residential flats on the upper floors. All the units are currently tenanted (with the restaurant being tenanted by the borrower and a family member).
The exit strategy is to sell the property, failing that to refinance the loan.
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 16-Feb) and TrancheA is now fully funded. TrancheB will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 17-Feb and allocation will take place on Friday 18-Feb.