2866 - Haringey, London
Name of case study: 2866 - Haringey, London
Gross rate: 9.60% pa
Term: 12 months
Loan amount: £4,725,000
Type of property: Residental
Security: 1st charge
The security is located in the affluent North London Borough of Haringey, a ten minute walk from Hampstead Heath. Nearby boasts an excellent range of upmarket shops, restaurants and bars within the nearby Highgate and Hampstead villages.
The property is a freehold, the newly built detached house is currently finished to shell and core. The 8,826 sq ft property also includes a large garden and swimming pool at the basement level. The client required a £4,725,000 loan with an LTV of 70% and a rate of 9.60% pa to refinance from a previous lender. The client will sell to exit the loan allowing the new buyer to add their own finish to the property.
The property has an estimated market value of £9,850,000 assuming the development is fully completed. It could be rented out, providing an opportunity for future income.