Page 109 - The Index
P. 109

                                      Specialism/USP Mezzanine and super mezzanine development funding
  Charges 2nd, 3rd
  Funding Predominately principal money
  FCA Regulated No
  Interest Range From 16% pa
  Security Types Residential development
  Treatment of Interest Rolled
  Treatment of Default Interest 4% pa above current rate
  Max LTV 75% for mezzanine, 80% for super mezzanine
  Max Loan to GDV N/A
  Max Loan to Cost 90% for mezzanine, 95% for super mezzanine
  Min/Max Loan Term 12-24 months
  Min/Max Loan Size £200k-£6m
  Geographical Lending Area Nationwide
  Types of valuation accepted Red Book
  New Builds Yes
  Refurbishment Yes
  Conversions Yes
  Grade Listed Buildings Yes
  Mixed Schemes Yes
  Planning Permission Needed Yes
  Commission Rate From 1%
  Associations N/A
  Upfront Fees Circa 1.5%
  Early Redemption Charges Yes
  Investment No
  Owner-occupied No
  Interest-only Options N/A
  The Index | 109

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