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Auction Details - Stockport Residential Conversion Loan

LOAN AMOUNT
£1,000,000
LOAN TERM
12 months
LENDER INTEREST RATE
8.5% p.a.
LOAN TO VALUE (LTV)
65%
Stockport Residential Conversion Loan

Loan to finance the acquisition and conversion of former office premises in Stockport town centre into 12 apartments for retention for letting purposes.
KEY LOAN DETAILS
Annual interest:
£100,000
Security:
1st legal charge
Guarantee:
Yes - Personal guarantee for a limited extent of capital and interest due under the loan
Additional collateral:
Yes - Debenture from the borrowing company
Interest serviceability:
Interest serviced by proceeds retained from the loan
Capital repayment:
By a refinance of the Property on completion with a term funder.
Purpose of loan:
Refinance
KEY PROPERTY DETAILS
Estimated value:
£1,540,000
Use:
Residential
Location:
North West


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These Auction Details for an Upcoming Auction do not constitute an offer or a contract and are provided for information only. Registered lenders who wish to participate in this forthcoming loan auction (once listed as a live auction) are invited to view the full Auction Particulars in the Auction Marketplace and will be bound by the Lender Terms & Conditions and Loan Conditions referred to therein.
Relendex Limited is registered in England, Company Number 07486328
Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

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