Loan

Loan #780270 Alston, CA9 3EL, United Kingdom

Property location
Alston Moor Leadgate, Alston CA9 3EL United Kingdom

Executive Summary

This Brownside Chapel, CA9 3EL, is located in the popular region Cumbria of Eden in the North of England. It makes up the northeastern part of Lake District National Park, a scenic resort area. The property is nearby Alston. Alston claims to be the highest market settlement in England, being about 1000 feet (300 meter) above sea level.

This old Chapel is situated in a pleasant and peaceful rural location, but within easy travelling distance of Alston town center with its wide variety of shops and facilities this is a detached converted chapel originally built in 1818 and now provides a well-proportioned four bedroom detached home. The property will be refurbished and turned into a 5 bedroom stylish holiday let where people can stay for their holiday.

The property enjoys panoramic views from its elevated site and is being sold with immediate vacant possession. The property comprises; entrance porch, hallway, a large living room with dual aspect windows, kitchen, study/utility and four bedrooms. There is off street parking.

This loan is needed for the purchase and refurb of the property. D & T Assets limited itself will pay the remaining money for this project. When the refurb is finished there will be a refinance of the project. The loan in principle is already in place for after the refurb. This loan will be repaid with the refinancing. As soon as the refurb is finished we’ll rent out this Brownside Chapel as a beautiful holiday home.

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 189,800.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €190,000.00
  • Profit share 0.00%
  • Term 6 Months
  • Payment frequency 1 months
  • Loan purpose Buy-to-rent
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 115.8%
  • Loan To Value (LTV) 86.4% i
  • Location
    United Kingdom
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