Alburys Financials s delighted to announce the completion of a £3.2M Semi-Commercial Development Exit Loan in West London.
THE SCENARIO
The security was a corner plot building consisting of 10 flats and office space on the ground floor
Current value was £5.2M
Current debt was £2.5M
REQUIREMENT
The Borrower needed to refinance away from their development funder to allow time to sell their units and capital raise for other property investments
They required a short-term loan, up to 18 months to give them time to achieve the best prices possible, especially in light of the recent Covid 19 situation
OUR SOLUTION
£3.2M loan
62% LTV
Capital raise £700k
Retained interest
18-month term
Rate 0.6% p.m
These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Any terms or rates offered to you may differ and will be subject to status.
If you have any questions or wish to discuss any funding requirements then please don't hesitate to contact us, we’d love to hear from you.