eeyore
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Post by eeyore on Mar 10, 2022 17:55:34 GMT
New 36-month commercial term loan for Shirley M*** U*** (PL) has been announced.
Total loan: £234,500 LTV: 70% Tranche A: £167.5k @ 5.60% gross (Fully funded) Tranche B: £50.25k @ 8.33% gross (Cap £1k) Tranche C: £16.75k @ 10.01% gross (Cap £1k)
The security is a mid-terrace mixed-use property let for retail use on the ground floor and a residential flat on the upper floor. The purpose of the loan is to raise funds to refinance a loan with a high-street bank and to help finance the purchase the property in the current Shirley R*** loan which will be drawn down together.
The strategy is to maintain the property and to refinance the loan at 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 Always-On lenders has already taken place (Thursday 10-Mar) and is now fully-funded, with some Always-On lenders being unsuccessful. Tranches B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 11-Mar and allocation will take place on Monday 14-Mar.
Note: This loan has been drawn down simultaneously with the Shirley R*** loan on 17-Mar.
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morris
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Post by morris on Mar 10, 2022 18:14:48 GMT
How does this work then. I have £1,000 in my account awaiting investment. I bid for tranch B in yesterdays loan. I have bid today for for the tranch B for the mixed use loan hoping that if the first fails I succeed with the second. But could I take this even further and bid for tranch C in both loans and get four bites of the cherry with my £1,000.
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Post by uksoul on Mar 10, 2022 18:30:12 GMT
How does this work then. I have £1,000 in my account awaiting investment. I bid for tranch B in yesterdays loan. I have bid today for for the tranch B for the mixed use loan hoping that if the first fails I succeed with the second. But could I take this even further and bid for tranch C in both loans and get four bites of the cherry with my £1,000. Yes you can go for 4 bites of the cherry with your 1k.
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eeyore
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Post by eeyore on Mar 17, 2022 18:18:31 GMT
The two Shirley loans have both been drawn down today (17-Mar).
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