bridgingloanparticulars!ref:!lf013! ·...
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Lendy Ltd | Baring Chambers, 13 Denmark Road, Cowes, IOW, PO31 7SY | Company no. 8244913
BRIDGING LOAN PARTICULARS REF: LF013
Early i.e. pre-‐drawdown SS investors will receive 0.5% cashback, in addition to 1% a month.
PROPERTY DESCRIPTION-‐ RESTAURANT ITALO ARGENTINO, CHEVEY DOWN ROAD, WINKFIELD ROW, CROWTHORNE, SURREY, RD42 6NH
2 story detached building in a predominately semi rural residential area of Crowthorne, Surrey. It was originally constructed as a public house c1900, it is now being used as a restaurant on the ground floor with upper floor residential parts. The borrower is buying out another partner in the property and repaying some other debts. Barclays Bank PLC have indicated that they will be happy to refinance this within c3 months once the ownership structure has been settled. The financial position of the borrower is very strong, they have substantial assets and have a successful background in retail/restaurant operations and property development. Total security value £625,000.00 LOAN PARTICULARS Loan Term (max): 6 months Loan amount: £406,250.00 Loan Term (min): 6 month Loan to Value (LTV): 65% Loan advance date: 01/10/14 Open Market Valuation: £625,000.00 SECURITY PARTICULARS Primary Security: 1st charge Valuation by: Robert Stirling
Secondary security: PGs Valuation date: 14th July 2014 (new
vals being written).
Tenure: Freehold Legals by: Clarke Willmot
Lendy Ltd | Baring Chambers, 13 Denmark Road, Cowes, IOW, PO31 7SY | Company no. 8244913
PURPOSE OF THE LOAN Ownership restructure. Repayment of existing debt. EXIT STRATEGY Refinance with Barclays Bank or another high street bank INVESTOR HIGHLIGHTS • Lendy Ltd is deducting 6 months of interest payments from the loan advance. • Early i.e. pre-‐drawdown SS investors will receive 0.5% cashback, in addition to 1% a month. • Choice of interest to be paid immediately following drawdown or on a monthly basis. • Interest will accrue immediately upon your commitment to this loan. • If the loan does not go ahead, Lendy Ltd will pay interest owed to all committed investors.