0139CF
BACK TO LOAN PORTFOLIO
TOTAL LOAN AMOUNT AMOUNT FOR ASSIGNMENT INTEREST
PER ANNUM
LOAN-TO
VALUE
INVESTMENT
PERIOD
£480,000 6.0% 49.1% 8 months
Assigned
Loan Calculator Have a question? Click here

Additional Info

DRAWDOWN DATE : 13/01/2016
REDEMPTION DATE : 12/10/2016
FULL TERM OF THE LOAN : 9 months
INVESTMENT PERIOD : 8 months
CURRENT PROPERTY VALUE: £1,490,000
SECURITY : 1) 1st charge; 2) 2nd charge
PROPERTY TYPE : 1) Residential; 2) Residential
TENURE: 1) Freehold; 2) Freehold

1st property

The property is a 4 bedroom detached house with garage which was constructed in the 1930s of cavity brick with part clad tiles to the front elevation under a double pitched tile roof, low at the front.

Natural light is facilitated by timber framed windows leaded light in some, and heating is provided by gas fired boiler. The first floor is suspended over timber joists and the ground floor is partly solid and joists with a mix of surface finishes.

The property has remained in the same style and decorative order for a number of years and does require modernizing, although it is reasonably well presented

The property has the benefit of a driveway to the front with off road parking and a 60 foot rear garden and garage.

The property is set in its own grounds in a quiet residential street surrounded by mainly detached houses of different designs. Hill Rise is located within the village of Cuffley, a walk away from Cuffley railway station. Cuffley is a village within the Welwyn Hatfield District of south east Hertfordshire located between Cheshunt and Potters Bar. It has a recorded population of 4296.

The surrounding area is predominantly owner occupied housing. Cuffley village centre and railway station are located nearby. There are a number of shops including the Co-Op store in the centre.

Cuffley railway station provides commuter services to Moorgate and connections to Kings Cross and the village is therefore part of the commuter belt. It has a pre-school and primary school. Secondary schools are at Cheshunt and Potters Bar.

2nd property

We have also taken a second security for the loan, being a second legal charge by way of agreed notice, on a 4 bedroom terraced house, valued at £750,000 sterling. The second security property is located in Noel Park (Hornsey) in North London.

The borrowers also own several other properties in London. They intend to repay the loan by refinancing.