| TOTAL LOAN AMOUNT | AMOUNT FOR ASSIGNMENT | INTEREST PER ANNUM |
LOAN-TO VALUE |
INVESTMENT PERIOD |
£801,000 | 6.5% | 45.8% | 8 months |
|---|
The subject property comprises a three storey double fronted mid terrace Victorian period house.
The property is of traditional solid brick construction under a pitched tile roof. There is a later portico to the frontage and the windows have recently been replaced with modern double glazed timber framed sliding “sash” style units.
To the rear there are a number of single storey extensions all under flat roofs together with a rear yard and garden area. To the front there is a small forecourt. In addition to the rear of the property there are limited windows with the original building being only one room deep.
The property is in a shell condition with planning consent has been granted on the 28th October 2015 for “Substantial demolition of existing residential dwelling with retention of street façade and construction of 3 dwellings comprising 1 no. 5 bedroom townhouse with rear garden and 2 x 2 bedroom residential flats”.
The borrowers intend to repay the loan by selling the security property which is currently being marketed for £1,950,000.
BACK TO LOAN PORTFOLIO 
