@themuppet The loan is only temporary in nature - the question is really, what is the costs of not securing this loan facility? In your own language, if a loan wasn't secured you would have no sun and water for your trees and no gold leaves to pick.
More news will come on refinancing (watch this space). In my view the 2% pcm interest rate is insignificant, it will be written off when tax time comes and long forgotten once revenue starts kicking in.
