Mezzanine Bridging Finance

£156k loan at 63% LTV

Loan Size
£156k

Loan Term & Status
12 months (Ongoing)

Location
Southampton, SO17

LTV (%) & Security
63% LTV secured with a 2nd legal charge, debenture and two joint and several personal guarantees

Details
Proseed provided a working capital loan secured against a residential development which will create five flats and four houses.  The individual units have forecast sales values ranging from £250k to £450k.

All the units in the scheme are Help-To-Buy eligible.

At the time of providing the loan, the scheme is months away from practical completion with several units in the scheme already reserved.

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