Loan

Loan #656592 Markhouse Road London

Property location
288 Markhouse Road London E17 8EF United Kingdom

Executive Summary

We managed to secure the property below market value at £245,000, with the independent surveyor valuing it at £285,000, so we have an excellent margin right from the start. The property only requires a light refurbishment and while the lease is only 51 years, the seller has served a section 42 notice on our behalf, meaning the freeholder is legally obliged to extend the lease for us. With a strong sales market in the local area for this type of property, we have a lot of local comparables which gives us a strong degree of certainty in achieving the valuation when we refinance. It also gives us the option to sell if we decide to as these types of flats are highly desirable.

 

Property Details:

The property is a well-proportioned ground floor two-bedroom maisonette benefitting from a private section of the rear garden. An attractive example of E17's famous Warner-style flats , it boasts bright spacious rooms, a large bathroom with space for a separate shower and bathtub and a fitted galley kitchen with direct access to its share of the rear garden. The property is in need of modernisation to bring it up to modern standards but boasts beautiful character features which make it charmingly unique.

 

Location:

The property is located in Walthamstow, between both St James Street and Lea Bridge Road stations so transport links are easily accessible. The local bus route is also within one minute walking distance from the property and has buses running to Blackhorse Road Station, Walthamstow Central, Leyton and Stratford. Lea Bridge Road amenities are within walking distance so you are spoilt for choice for shops, bars and restaurants. The property also benefits from being within walking distance to the new Lea Bridge Road station which has direct access into Stratford. The local landmarks like Westfield shopping centre, Epping forest and the Olympic park are all very close and easily accessible.

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 300,000.00 raised
  • Risk class i
  • Expires 20 day(s) left
  • Target amount €300,000.00
  • Profit share 0.00%
  • Term 9 Months
  • Payment frequency 1 months
  • Loan purpose Bridging
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 113.0%
  • Loan To Value (LTV) 88.5% i
  • Location
    United Kingdom
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