Our first bridging loan is now LIVE and open for investment. This superb offering will be live for funding the next 10 days. It’s a 7-month offering, with an interest rate of 8.5% per annum.
The borrower has requested a bridging loan of €700,000 which we have secured against their current development site. The current site, featured in the video below, has a gross development value of €4.78m. Of the 22 units on the site, 11 are already pre-sold. The borrower will be using the funds to purchase 2 new development sites in the South East which they plan on developing for a further 12 homes.
Loan Overview
- Interest rate: 8.5% per annum
- Security: First Charge
- LTGDV: 17% rising to 57%
- Term: 7 months with 4 months minimum
- Loan Amount: €700,000
- Exit: Sale of properties
Watch the video above to see the construction currently underway on the site. This video was taken on the 2nd of April 2019.
To see full details of the loan visit invest.propertybridges.com/offerings/browse.
To DEPOSIT funds, log into your account HERE, and follow the instructional video below.
If you have any further questions please reach out to us at
team@propertybridges.com
