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Bamburgh (The Friars) Mezzanine Stage 1 Loan


Stage 1 of a 2 stage loan of ultimately £675,000 to fund cost increases to complete refurbishment of the property and interest for the term of the loan

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Loan Amount
£400,000
Loan Term
5 Months
Lender Interest Rate
10.25%
Loan To Value (LTV)*
68%
Key Loan Details

Annual interest
£41,000

Security
2nd charge over the property

Guarantee
Personal guarantee from Principal A for the full Mezzanine Facility Amount and interest due

Interest serviceability
Interest will be payable quarterly in arrears from proceeds retained from the loan

Capital Repayment
Re-mortgage once the proposed works have been completed

Purpose of loan
Development
Key Property Details

Valuation
£3,700,000

Use
Residential

Location
North East
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Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

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Lenders participating in these arrangements should be clearly aware that any sum lent through the Exchange is a loan and not a deposit and its repayment is not guaranteed. It is in the nature of an investment opportunity. Any investor should consider an appropriate spread of risk. Non-institutional investors should seek professional advice before lending through the Relendex Exchange.

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