Post by eeyore on Apr 27, 2022 11:28:30 GMT
New 24-month loan for Wembley W*** R*** has been announced.
Total loan: £2,662,500 LTV: 75%
Tranche A: £1,775k @ 6.0% gross (Cap: £5k)
Tranche B: £532.5k @ 7.51% gross (Cap: £3k)
Tranche C: £355k @ 10.11% gross (Cap: £2k)
The loan is to refinance the maturing existing loan at Proplend and to raise further capital for renovations. The exit strategy is to refinance with a long-term lender.
The security is a first legal charge on a freehold warehouse building.
For details, see the full loan request and valuation report which are available on the website.
The forum thread for the existing Wembley W*** loan is here: p2pindependentforum.com/thread/18489/wembley-pll0986
Allocation of TrancheA funds for "Always-On" lenders has already taken place (Wednesday 27-April).
Tranches A, B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 28-Apr and allocation will take place on Friday 29-Apr.
Update: The loan has been drawn down today and should mature on 29-April-2024.
Update 29-Apr-2024: The loan has been repaid today.
Total loan: £2,662,500 LTV: 75%
Tranche A: £1,775k @ 6.0% gross (Cap: £5k)
Tranche B: £532.5k @ 7.51% gross (Cap: £3k)
Tranche C: £355k @ 10.11% gross (Cap: £2k)
The loan is to refinance the maturing existing loan at Proplend and to raise further capital for renovations. The exit strategy is to refinance with a long-term lender.
The security is a first legal charge on a freehold warehouse building.
For details, see the full loan request and valuation report which are available on the website.
The forum thread for the existing Wembley W*** loan is here: p2pindependentforum.com/thread/18489/wembley-pll0986
Allocation of TrancheA funds for "Always-On" lenders has already taken place (Wednesday 27-April).
Tranches A, B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 28-Apr and allocation will take place on Friday 29-Apr.
Update: The loan has been drawn down today and should mature on 29-April-2024.
Update 29-Apr-2024: The loan has been repaid today.
