Andy Stanbury, Director of Alburys Property Finance is delighted to announce the completion of a £1.6M Refinance loan.
The Clients required a mid-term refinance and capital raise on a mixed-used scheme that they had just developed in Clapham.
The converted scheme consisted of 3 luxury flats and a shop below. The annual rent was £110k with a completed GDV of circa £2.1M.
The Clients’ main requirements were to repay the existing £800k loan and then capital raise for future projects.
We were able to structure the following:
• 75% LTV loan with the addition of the arrangement fee added in giving a total loan of £1.6M
• Fixed rate 4.89% for 2 years
If you need any assistance with your requirements, please feel free to get in touch.