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The property is a three storey building constructed around solid brick elevations, and with a two storey rear addition of cavity brick under felted flat roof. Natural light is facilitated by uPVC and timber framed windows.
The house has been converted into four flats with two flats on the ground floor and two flats above, one is located on a split level and can be categorized as a maisonette.
The flats have separate boilers serving low pressure radiator system. One flat has access and benefit to the rear garden.
The security property is part of four cross collateralized loans, meaning that all security properties will remain securities until all four loans are paid in full.
The four loans of £480,000, £200,000, £150,000 and £113,000 (totaling £943,000 with a total LTV 54%) are secured with four properties to a London resident couple owning several Real Estate properties in the area of Finsbury Park and Holloway, in Islington North London. For additional comfort we have also obtained a second equitable charge on a fifth property.
All the security properties are situated within a very close proximity to shops, amenities, hospitals, schools, universities and Arsenal’s Emirates Stadium.
The borrowers intend to repay the loan by refinancing after refurbishment and development of the property into a Buy to Let.