Name of case study: 2774 - Ladbroke Grove, London
Loan amount: £633,000
LTGDV: 60.17%
Term: 12 months
Gross rate: 8.40% pa
Security: 1st charge
Product type: Refurbishment
Property type: Residential
TAB is pleased to confirm that we have completed a £633,000 first charge refurbishment bridging loan secured against a residential property. Located on Ladbroke Grove, West London, the property comprises a ground and lower ground floor flat in a terraced block which contains 15 flats across five floors.
The borrower intends to use the funds to refurbish the property by creating an ensuite bedroom on the ground floor as well as an open plan reception room and kitchen at the lower ground floor level. The refurbishment will include, however, is not limited to new flooring, insulation, plastering and redecorating. The client will sell the property to exit the loan.
The property has excellent transport links as it is closely located near Notting Hill tube station, which has direct connections to the London Underground network.
Great work from Emmanuel Johnson who was the underwriter on the case, as well as the rest of the TAB team on working alongside the client in securing the facility and completing the deal. TAB’s sales director Nick Russell, who originated the loan
