2122 - Kensington, London
Name of case study: 2122 - Kensington, London
Gross rate: 10.20% pa
Investor return: 7.68%pa
Term: 6 months
Loan amount: £138,000
Exit strategy: Sale of existing BTL assets
Reason for loan: Purchase
Type of property: Residential
Security: 2nd charge
The client is raising funds via a second charge against their main residence in order to assist with the purchase of two buy-to-let assets. The security is a ground floor two bedroom, two bathroom 947sq. ft. flat with a balcony located in a purpose built block in West Kensington.
The proposed exit will be from the sale of an existing buy-to-let flat in London W14. This loan has an LTV of just over 55% and is for 6 months.