£660,000
BACK TO LOAN PORTFOLIO
TOTAL LOAN AMOUNT AMOUNT FOR ASSIGNMENT INTEREST
PER ANNUM
LOAN-TO
VALUE
INVESTMENT
PERIOD
£660,000 £0 6.50% 60.80% 8 months
Assigned
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Additional Info

DRAWDOWN DATE : 30/09/2017
REDEMPTION DATE : 30/05/2018
FULL TERM OF THE LOAN : 8 months
INVESTMENT PERIOD : 8 months
CURRENT PROPERTY VALUE: £1,085,000
SECURITY : 1st charge / 1st charge
PROPERTY TYPE : Residential / Residential
TENURE: Freehold / Freehold

The subject property is a 4-bedroom two-storey mid-terraced c.1900s house (former GP surgery), which has been subdivided and converted into several bedsits.

The property is of traditional construction with solid brick walls, suspended timber floors and tiled pitched roof. There is a single storey rear extension of brick construction with a tiled pitched roof.

The front of the property provides two separate archway entrances at opposite ends and a part fenced area where waste-bins are stored.

The left front entrance provides access to the first floor which is being used as a HMO. There are three bedrooms, a kitchen (previously a bedroom) and a shower room with WC and washbasin.

The right entrance provides access to the ground floor which has been converted into three bedsits. The two reception rooms have been converted into bedrooms with kitchen and cooker areas. There is a shared wetroom with WC, washbasin and shower fitting. There is a third bedsit which is accessed from the garden and provides kitchen, shower with WC and bedroom.

The property does not appear to have been converted to building regulations and standards and does not seem to meet fire and health and safety regulations. There also does not appear to be a HMO licence or private rented property licence (PRPL) for the property. There are no separate gas, water or electric meters for the property.

The borrower intends to repay the loan by refinancing.