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Loan details
Loan Ref
69595
Amount
£790,000.00
Risk Grade
F2
Interest Rate
6.5%
ISA Pot
Balanced
Purpose
Development
Term
12 months
Repayment
Interest only
Region
North West
App received via
Funded
£0.00
0.00%
Property details
Open market value
£1,790,000.00
Security
1st Legal Charge
Exit strategy
Sale of properties
Loan to value (GDV)
44.13%
Loan to value (OMV)
44.13%
Description

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.

Additional Images


Additional Images