0140CF
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TOTAL LOAN AMOUNT AMOUNT FOR ASSIGNMENT INTEREST
PER ANNUM
LOAN-TO
VALUE
INVESTMENT
PERIOD
£180,000 7.5% 61.4% 11 months
Assigned
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Additional Info

DRAWDOWN DATE : 27/01/2016
REDEMPTION DATE : 27/12/2016
FULL TERM OF THE LOAN : 11 месяцев
INVESTMENT PERIOD : 11 months
CURRENT PROPERTY VALUE: £1,830,000
SECURITY : 1) 2nd charge; 2) 2nd charge
PROPERTY TYPE : 1) Residential; 2) Residential
TENURE: 1) Freehold; 2) Leasehold 999 years from 2001

1st property

The subject property comprises an early-mid 20th Century house which was extended and refurbished about 7 years ago. The building is of standard masonry construction with pitched tiled roofs.

The house has been fitted out to a high standard with some underfloor heating and some air conditioning.

There is an integral single garage which could be incorporated.

The house is arranged over ground and first floors and there may be further potential to increase the floor area by converting the rear loft space.

The property is situated on the east side of Cannon Hill between its junctions with Selbourne Road and Cannon Road. Southgate Green shops and restaurants lie on the other side of Selbourne Road, less than 100 metres from the subject property.

Southgate lies 1,100 metres to the north where there are stores including an Asda and M&S Foodstore. The London Underground station is served by the Central Line. Palmers Green Station (mainline) is a little close and has a regular service into Moorgate Station.

2nd property

The subject property is a modern duplex unit arranged over ground and first floors and having two bedrooms and two bathrooms.

The property occupies the ground and first floors within this three storey terraced building of framed construction with a profiled roof above the upper level. The second floor apartments are accessed via steel walkways. The building has an industrial feel and has high ceilings.

The duplex flat has been finished to high standards with double glazing and electric heating.

The flat is demised with one car parking space.

The property is located within a gated redevelopment of live-work units which were completed in 2001.

The property lies about 200 metres south of Stoke Newington Church Street with its shops and restaurants. Green Lanes lies just over 300 metres to the west.

Canonbury and Stoke Newington stations (London Overground) lie within 1200 metres. The City of London lies 3 miles to the south.

The borrowers own a large property portfolio. He intends to repay the loan by selling another property.