| TOTAL LOAN AMOUNT | AMOUNT FOR ASSIGNMENT | INTEREST PER ANNUM |
LOAN-TO VALUE |
INVESTMENT PERIOD |
£340,000 | 7.0% | 75.6% | 11 months |
|---|
The property is a semi-detached building constructed in the traditional manner for residential buildings of this type, in the 1930s.
At some point in the past, the property has been converted to commercial accommodation at ground floor level with a side extension consisting of 5 rooms that are an addition to the original form of the building.
The property would be suitable for a more substantial residential scheme subject to planning.
The property is situated in a predominantly residential area close to all local amenities and transport services. The properties in the street are generally of a similar nature.
The area is popular with families and in particular commuters due to the access to central London via the local train services.
Shopping, entertainment and transport services are a short walk away from the property.
As comfort,we have also taken two 2nd legal charges, over semi-detached industrial unit and two storey semi-detached house. Both comfort charges are also located in Essex. East London.
The borrower intends to repay the loan by refinancing with a mainstream lender, upon the completion of refurbishment.
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