Mezzanine Development Finance

£370k loan at 69% LTV

Loan Size
£370k

Loan Term & Status
15 months (Repaid)

Location
Catteshall, GU7

LTV (%) & Security
69% LTV secured with a 2nd legal charge on this property, a 2nd legal charge over another asset within the Developer’s portfolio, debenture and a personal guarantee

Details
This scheme was a permitted rights development (“PD”) to convert the 1st floor commercial space into 4 flats with forecast sales values ranging from £200k to £240k.  The ground floor was retained and refurbished by the Developer to become their office.

All of the residential units in the scheme were Help-to-Buy eligible.

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