| TOTAL LOAN AMOUNT | AMOUNT FOR ASSIGNMENT | INTEREST PER ANNUM |
LOAN-TO VALUE |
INVESTMENT PERIOD |
£115,700 | 5.5% | 28.9% | 11 months |
|---|
The property comprises a first floor two bedroom flat in a purpose-built terrace of units with commercial premises at ground floor level, built circa 1905.
The property is of traditional construction with solid brick walls under a pitched slate roof. Timber suspended floors and in the main timber sash windows.
Internally there is a requirement for redecoration of the accommodation, renewal of bathroom/kitchen fittings, and replacement of the central heating boiler.
The property is located in an established mixed residential and commercial area Muswell Hill in North London with most local services available close by (Highgate Underground Station – Northern Line, is a short bus ride away).
The borrower, a London based individual who has inherited a large property portfolio, acquired a loan to repay an inheritance tax liability and refurbish the security property.
The borrower intends to repay the loan by selling the security property after refurbishment completion.
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