|TOTAL LOAN AMOUNT||AMOUNT FOR ASSIGNMENT||INTEREST
The subject property is a Victorian house converted into 3 flats. The property is constructed traditional construction having sold brick external walls under a slate roof with mainly suspended timber upper floors.
The property is situated in a predominantly residential area close to all local amenities and transport services. The properties in the street and generally of a similar nature.
The area is popular with families and in particular commuters due to the access to central London via the local train service.
Significant shopping, entertainment and transport services are a short drive away in Wood Green.
The property is within 5 minutes’ walk of Wood Green tube station.
The loan is cross collateralized with another property which we have an existing 1st legal charge on for the amount of £328,000 sterling. The property comprises of a large converted detached building comprising of four flats, valued at £930,000 sterling located in Croydon North, in South London.
The borrowers intend to repay the loan by refinancing.