Post by eeyore on Sept 20, 2023 12:23:28 GMT
New 36-month commercial term loan for Carshalton O*** has been announced.
Total loan: £340,000 LTV: 65%
Tranche A: £262.5k @ 8.05% gross (Fully funded)
Tranche B: £77.5k @ 10.45% gross (Cap: £1k)
The purpose of the loan is to raise funds to purchase the property.
The security is a two-storey 1930's semi-detached property with parking for two cars. There will be a new five-year lease with the tenant.
The strategy is to retain the property as a long-term investment and potentially convert it into two residential flats for which there is already planning permission. The loan is expected to be refinanced at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Allocation of Tranche A funds for Always-On lenders has already taken place (Wednesday 20-Sep) and is now fully funded. Tranche B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 21-Sep.
Update 22-Sep: The loan was drawn down today and is due to mature on 22-Sep-2026.
Total loan: £340,000 LTV: 65%
Tranche A: £262.5k @ 8.05% gross (Fully funded)
Tranche B: £77.5k @ 10.45% gross (Cap: £1k)
The purpose of the loan is to raise funds to purchase the property.
The security is a two-storey 1930's semi-detached property with parking for two cars. There will be a new five-year lease with the tenant.
The strategy is to retain the property as a long-term investment and potentially convert it into two residential flats for which there is already planning permission. The loan is expected to be refinanced at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Allocation of Tranche A funds for Always-On lenders has already taken place (Wednesday 20-Sep) and is now fully funded. Tranche B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 21-Sep.
Update 22-Sep: The loan was drawn down today and is due to mature on 22-Sep-2026.
