Mezzanine Development Finance

£1.34m loan at 72% LTV

Loan Size
£1.34m

Loan Term & Status
24 months (Ongoing)

Location
Eastbourne, BN21

LTV (%) & Security
72% LTV secured with a 2nd legal charge, a debenture and two joint and several personal guarantees

Details
This project will 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 is a permitted rights development (“PD”) scheme.

All of the units will be registered for the Help-to-Buy scheme.

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