Post by eeyore on Sept 27, 2023 14:07:13 GMT
New 36-month commercial term loan for Luton L*** I*** has been announced.
Total loan: £843,750 LTV: 75%
Tranche A: £562.5k @ 8.05% gross (Fully funded)
Tranche B: £168.75k @ 9.55% gross (Cap £1k)
Tranche C: £112.5k @ 11.05% gross (Cap £1k)
The purpose of the loan is to assist with the purchase of the property.
The security is the freehold on a series of one- & two-storey workshop, storage & office units on an industrial estate. There are about twelve units, some of which are not tenanted.
The strategy will be to retain the property as a long-term investment and to refinance the loan on maturity.
See the full loan request and valuation report for details which are available on the website.
Allocation of Tranche A for Always-On lenders has already taken place (Wednesday 27-Sep) and is now fully-funded.
Tranches 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-Sep.
Update 13-Oct: This loan has been drawn down and will mature on 13-Oct-2026.
Total loan: £843,750 LTV: 75%
Tranche A: £562.5k @ 8.05% gross (Fully funded)
Tranche B: £168.75k @ 9.55% gross (Cap £1k)
Tranche C: £112.5k @ 11.05% gross (Cap £1k)
The purpose of the loan is to assist with the purchase of the property.
The security is the freehold on a series of one- & two-storey workshop, storage & office units on an industrial estate. There are about twelve units, some of which are not tenanted.
The strategy will be to retain the property as a long-term investment and to refinance the loan on maturity.
See the full loan request and valuation report for details which are available on the website.
Allocation of Tranche A for Always-On lenders has already taken place (Wednesday 27-Sep) and is now fully-funded.
Tranches 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-Sep.
Update 13-Oct: This loan has been drawn down and will mature on 13-Oct-2026.