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Loan details
Loan Ref
69548
Amount
£455,676.14
Risk Grade
F2
Interest Rate
6.5%
ISA Pot
Balanced
Purpose
Bridging
Term
12 months
Repayment
Interest only
Region
East of England
App received via
Funded
£0.00
0.00%
Property details
Open market value
£0.00
Security
1st Legal Charge
Exit strategy
Sale of property on completion of build.
Loan to value (GDV)
27.62%
Loan to value (OMV)
0.00%
Description
Funds requested for the completion of the final stages of a residential property with a GDV of 1.65 million. The property has been self-funded to date and is unencumbered. A first charge will be taken over the property. 12 months interest will be retained to service the loan. Exit will be the sale of the property upon completion. The borrower is a highly experienced commercial and residential developer and landlord.