Lending to projects in the final stages of development can often be an attractive proposition for lenders looking for a short-term opportunity. Below we have profiled a late stage tranche drawdown placed on our marketplace in May 2017 with an expected maturity of October 2017.

The development
2 x five bedroom, three storey houses in Leicestershire
£2.1m of £2.4m facility already drawn down
Project due for completion in October 2017

The lending opportunity
5th tranche drawdown of £100k
9.5% p.a. gross (8.75% p.a. net interest rate paid to lender)
Lending term from May to October 2017
Interest rolled up – fixed rate
First Fixed Charge, Debenture, Guarantee.

Monitoring update from Invest & Fund third party (April 2017)
The development is well advanced and on track for completion in October 2017. Construction and internal first fix carpentry complete • Roof finishes very close to completion • Brickwork complete, external levels set, paving progressing • Ground floor insulation on track prior to installation of underfloor heating • First mechanical and electrical works progressing well.

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