0129CF
BACK TO LOAN PORTFOLIO
TOTAL LOAN AMOUNT AMOUNT FOR ASSIGNMENT INTEREST
PER ANNUM
LOAN-TO
VALUE
INVESTMENT
PERIOD
£801,000 6.5% 45.8% 8 months
Assigned
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Additional Info

DRAWDOWN DATE : 26/11/2015
REDEMPTION DATE : 25/10/2016
FULL TERM OF THE LOAN : 11 months
INVESTMENT PERIOD : 8 months
CURRENT PROPERTY VALUE: £1,750,000
SECURITY : 1st charge
PROPERTY TYPE : Residential and the land adjoining
TENURE: Freehold

The subject property comprises a three storey double fronted mid terrace Victorian period house.

The property is of traditional solid brick construction under a pitched tile roof. There is a later portico to the frontage and the windows have recently been replaced with modern double glazed timber framed sliding “sash” style units.

To the rear there are a number of single storey extensions all under flat roofs together with a rear yard and garden area. To the front there is a small forecourt. In addition to the rear of the property there are limited windows with the original building being only one room deep.

The property is in a shell condition with planning consent has been granted on the 28th October 2015 for “Substantial demolition of existing residential dwelling with retention of street façade and construction of 3 dwellings comprising 1 no. 5 bedroom townhouse with rear garden and 2 x 2 bedroom residential flats”.

The borrowers intend to repay the loan by selling the security property which is currently being marketed for £1,950,000.