JOYN DEVELOPMENTS LIMITED – LOAN 3

Listed 17 April 2018 By No Comments
Borrower
Joyn Developments Limited
Loan Amount
£300,000
Loan Term
21 Months
Repayment Method

9 Months’ interest and capital roll up followed by 12 months’ interest only on the augmented capital

Interest Rate

11% p.a. Fixed

Purpose

To fund the continuation of the development of the property for conversion to 7 apartments and 2-bedroom cottage

Security

ThinCats sole charge over the property valued at £650,000. The security provided for loan 3 will rank behind loan 1 (£285,000) and equally with loan 2 (£210,000)

ThinCats sole debenture over the borrower. Loan 3 will rank behind Loan 1 and equally with loan 2

Personal guarantees of Jyoti Raghvani and Yugen Naidoo

Valuations

The P2P Casebook information on this page has been prepared on the basis of information provided by Borrower to F&P Sponsors Limited for the purposes of completing the loan information pack relating to their case. F&P Sponsors Limited accept no responsibility or liability for the accuracy of the information in the information pack. Potential lenders must form their own view of the risk involved in lending to the Borrower and F&P Sponsors Limited accepts no liability for any loss or diminution of the value in the lender's assets arising from their decision to lend to the Borrower.