The securities consists of a 7 bed town house in Chigwell which is currently let out , but our customer plans on heavily refurbishing the unit out and changing the use.
This will happen after redemption using finance obtained from the exit route. The customer believes he has a bargain for a residential property of this size in this area
(Estimated Value £1,200,000).
We provided finance for £787,500 to assist in the purchase. Solicitors instructed on 26.02.15 and first drawn on 02.03.15. Formally completed on 26.03.15