Scottish Widows increases Home REIT loan fee to 7%

Full repayment expected by year end

Scottish Widows has revised the terms of the lending agreement with Home REIT.

In a stock exchange notice today (3 July), the trust revealed that its lender, Scottish Widows, changed the terms of the additional fee charged on the outstanding loan amount and the 5% fee has been increased to 7% from 1 July 2024. The increase will remain in place until the full repayment of the loan, which the lender expects to happen by no later than 31 December 2024. The change follows Home REIT's failure to secure a new lender to refinance its existing debt facility, which has led the trust to prioritise additional property sales to repay its outstanding borrowings. Home REIT...