Mezzanine Development Finance
£1.34m loan at 72% LTV
Loan Term & Status
24 months (Repaid)
LTV (%) & Security
72% LTV secured with a 2nd legal charge, a debenture and two joint and several personal guarantees
This project assisted with the conversion an existing office building into a combination of 1 and 2-bedroom flats with forecast sales values ranging from £125k to £350k.
The project was a permitted rights development (“PD”) scheme.
All of the units were registered for the Help-to-Buy scheme.