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Harrow (Harrow Road) Residential Development Stage 2 Loan (RSP) - (EIR 7.71%) A
Senior Tranche


To fund the continued construction of a terrace of 3 houses at Harrow Road, Harrow, London. 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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IMPORTANT
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Loan Amount
£214,000
Loan Term
9 Months
Lender Interest Rate
7.5%
Loan To Value (LTV)*
50%
Key Loan Details

Annual interest
£16,050

Security
1st Legal Charge

Guarantee
Personal Guarantee from the principal for £321,125 of the loan capital, unpaid interest due under the loan and all cost overruns

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

Capital Repayment
Sale or refinance the completed units

Purpose of loan
Development
Key Property Details

Valuation
£1,830,000

Use
Residential

Location
London
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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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