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Exmouth (Queen Street) Mixed Use Development Loan - A (EIR 7.45%)
Senior Tranche


To fund the completion of the construction of 19 apartments and 2 commercial units in accordance with planning permission. EIR is the Effective Interest Rate and assumes the re-investment of quarterly interest receipts into loans on the Relendex platform offering an equivalent interest rate as below.

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Loan Amount
£615,000
Loan Term
9 Months
Lender Interest Rate
7.25%
Loan To Value (LTV)*
13%
Key Loan Details

Annual interest
£47,850

Security
1st legal charge over the Property

Guarantee
Guarantee from the directors for the capital value of the loan plus interest

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

Capital Repayment
Sale or re-finance of the Property

Purpose of loan
Development
Key Property Details

Valuation
£5,185,000

Use
Residential

Location
South West
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