101077 - £225,000 loan against two bedroom terraced house - Hertfordshire

Loan amount: £225,000
LTV: 69.23%
Term: 6 months
Security: 1st charge
Product type: Residential

TAB completed a £225,000 first charge residential loan secured against a two storey two bedroom terraced house with planning for a rear single storey extension and loft conversion.

The borrower, who are repeat clients of TAB, are property experts who specialise in buying properties that are empty or need modernisation.

The property was purchased undervalue and requires complete refurbishment. The borrowers intend to exit via the sale of the house through auction.

This was a simple case that had few complications from start to finish. Both the borrowers and the broker were professional throughout and a pleasure to deal with. We welcome the opportunity to work with both again in the future.Faith Ndebele, Underwriter