Posted on I&F marketplace in May 2017.

The development
Refinance purchase, demolition and construction of 8 x 2 bedroom flats, Surrey.
Expected £80k Tranche 6 drawdown on £2.1m+ facility
£1.3m+ already drawn down, project due to complete in April 2018.

The lending opportunity
9.0% p.a. gross (8.25% p.a. net interest rate paid to lender)
Interest rolled up – fixed rate
First Fixed Charge, Debenture , Guarantee.

Monitoring update from Invest & Fund third party (April 2017)
Superstructure works have continued with the construction of internal masonry partitions up to underside of 1st floor • Supporting steel beams and internal precast access stair flights installed at lower ground and ground floor • From on-site review of layouts we confirm the introduction of retaining walls to change lowest level flats from basement to lower ground floor.

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