Kent £814K

Finish & Exit

Gross Loan

£814,558

Loan Type

Finish & Exit

Term

12 Months

LTGDV/LTV

62.4%

Annual Rate

9.5%

Monthly Rate

0.791%

This part-compete scheme was a former care home which was in the process of being converted and extended into 3×3-bed and 1×4-bed houses.

The borrower had self-funded the initial structural works of the refurbishment project. The property was not yet wind and watertight when additional funds were required to complete the build.

The units are located 4 miles from Rochester station where there are frequent train services to London Victoria. Residents can also get to Gatwick airport within 50 minutes. The accessibility to London and the airport makes these properties appealing to professionals working in the city centre.

“Avamore’s Finish & Exit scheme is a great facility that really caters for the markets current needs, especially for those who may have been faced with time and financial constraints due to COVID-19. The Underwriting team at Avamore are strong problem solvers and always acted with the best interests of the client”

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