Mezzanine Development Finance
£370k loan at 69% LTV
Loan Term & Status
15 months (Repaid)
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
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.