The loan has a term of 12 months with covenants including that the LTV ratio must not exceed 65%.
The specialist commercial and residential property bridge financing fund has deemed the risk profile for the property to be moderate/low, with the loan target net return to investors between 10–12% per annum.
- Lenders should send out more underwriters and less BDMs, claims packager
- Whitehall Capital completes bridging loan for £1.4m mixed-use scheme
Anthony Bodenstein, CEO at Whitehall Capital (pictured above), said: “I’d like to say a particular thank you to Denise Frohwein, who joined Whitehall Capital as relationship manager in January this year and is a real estate and financial industries professional with more than 10 years’ experience in these sectors.
“This loan completion follows hot on the heels of the loan we closed last week in Darlington, County Durham, and we look forward to growing the fund’s volume of loans and geographic reach even further.”
Whitehall Capital targets loans secured against properties valued between £1m and £10m, with most loans in the £1m-5m range.
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