Important: Please note your capital may be at risk with Peer to Peer lending and your investments are not covered by the Financial Services Compensation Scheme (FSCS).
The gross loan is £790,000, with a term of 12 months and will be on the F2 product giving a return of 6.5%. We will be holding 12 months payments on account for this loan.
The security is by way of a first legal charge on a completed development of 6 residential dwellings. The monies are being raised for commencement of a new development elsewhere.
The GDV is £1.79 million after the current sale concludes, giving an LTV of 44%.
The development is fundamentally completed with minor landscaping works remaining. The properties are currently being marketed with one dwelling sold STC and deposits held on 2 further properties.