0138CF
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TOTAL LOAN AMOUNT AMOUNT FOR ASSIGNMENT INTEREST
PER ANNUM
LOAN-TO
VALUE
INVESTMENT
PERIOD
£435,000 6.0% 39.5% 10 months
Assigned
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Additional Info

DRAWDOWN DATE : 08/01/2016
REDEMPTION DATE : 07/12/2016
FULL TERM OF THE LOAN : 11 months
INVESTMENT PERIOD : 10 months
CURRENT PROPERTY VALUE: £1,100,000
SECURITY : 1st charge
PROPERTY TYPE : Residential
TENURE: Freehold

This detached Victorian house is built of traditional construction have fair-faced solid brick walls, set beneath a slate pitched roof with plastic gutters set around the eaves.

There is a 2 storey angled bay and a further 2 storey square bay to the front elevation. There are 3 No. fair-faced brick chimney stacks.

The property has been converted into 2 flats – a two bedroom ground floor flat and a three bedroom first floor flat.

Rear lawn garden accessed via ground floor flat or a pathway from left flank elevation leading to rear timber gate. Crazy paved front garden.

The property is situated to the western end of Torrington Park, close to the junction with High Road, with all its associated local and national retailers. Woodside Park underground station, served by the Northern Line is 0.5 miles to the west and a number of bus routes serve the locality with the bus station situated to the Triangle of Tally Ho.

On street parking is restricted to Resident Permit Holders only. There are numerous primary and secondary schools within a 3 mile radius. To the eastern end of Torrington Park is Friary Park, providing for ample open space.

The loan will be cross collateralized with the property being purchased by the borrower which we are taking as a first legal charge for the amount of £490,000 sterling. The property being purchased comprises of a nine bedroom semi-detached Victorian house also located in North Finchley in North London, valued at £1,450,000 sterling. Taking in to account the above the total LTV amounts to 36.3%.

The borrower intends to repay the loan by re-financing.