Page 83 - The Index
P. 83

                                      Specialism/USP Mezzanine and super mezzanine development funding
  Charges 2nd, 3rd
  Funding Predominately principal money
  FCA Regulated No
  Interest Range From 16% pa
  Base Rate N/A
  Security Types Residential development
  Treatment of Interest Rolled
  Treatment of Default Interest 4% per annum 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
  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 No
  Investment No
  Owner-occupied No
  Interest-only Options N/A
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