Post by eeyore on Jun 23, 2023 11:29:23 GMT
New 36-month commercial term loan for Harrow & Wembley S*** H*** has been announced.
Total loan: £675,000 LTV: 33%
Tranche A: £675k @ 7.25% gross (Cap £5k)
The purpose of the loan is refinance two existing loans and to raise additional working capital.
The security is two semi-detached houses (in Harrow & Wembley), previously used as care homes and recently converted to social housing, with six letting rooms in one and seven in the other property.
The strategy is to maintain the property as a long-term investment and to refinance at the end of the loan's term.
See the full loan request and valuation report for details which are available on the website.
Total loan: £675,000 LTV: 33%
Tranche A: £675k @ 7.25% gross (Cap £5k)
The purpose of the loan is refinance two existing loans and to raise additional working capital.
The security is two semi-detached houses (in Harrow & Wembley), previously used as care homes and recently converted to social housing, with six letting rooms in one and seven in the other property.
The strategy is to maintain the property as a long-term investment and to refinance at the end of the loan's 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 (Friday 23-Jun). Tranche A will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 26-Jun.
Update: The loan has been drawn down and will mature in June 2026.