Completed commercial units requires refinance of development lender - First Charge offered
- Location: West Midlands
- Amount Required: £450,000
- LTV for entire deal: 36%
- Sector: Refinance
LTV represents Loan To Value, where Value is an up to date valuation of the property involved and Loan is the total amount to be lent to the borrower, including the Investor's loan.
Client is an experienced developer who has completed an an extensive Office Complex of 5 self contained units.
Development lender is now keen to have their facility repaid in full.
The client is looking for a 12 month loan to repay this and to cover interest and is offering a FIRST charge.
Agents are actively marketing the complex and anticipate units to be sold within this time frame, with current value of c£1.25m
