|TOTAL LOAN AMOUNT||AMOUNT FOR ASSIGNMENT||INTEREST
The security properties for the loan is 1st legal charge on a ground floor two bedroom purpose-built flat and 2nd legal charge on two flats in a four storey mid-terrace house converted into four flats.
The value of the properties amounts to £1,625,000 in total. Flat 1 is £450,000 and is located in Southgate, London while the other two flats are £625,000 and £550,000 respectively and they are located in Haringey, London.
The achievable market rental income is at £15,600 per annum for the first flat and the rental income for the other two are £17,241 and £15,172 respectively.
The borrower intends to repay the loan by re-finance.