London £798K

Finish & Exit

Gross Loan

£798K

Loan Type

Finish & Exit

Term

12 months

LTGDV/LTV

44.4%

Annual Rate

7%

Monthly Rate

0.583%

The property is a 3-storey single dwelling house that is being converted into 3 self-contained flats. It is located close to several amenities and is 800m metres from Turnpike Lane Underground Station which is served by the Piccadilly Line. The area is characterised by late Victorian, early 20th century housing and is situated close to Alexandra Park, an extensive outdoor space that is home to the renowned Alexandra Palace. Moreover, upon completion, the properties will be of interest to both owner occupiers and investors looking to take advantage of the local rental demand.

“After the initial ground works of my project had been completed, I found that I required additional funding support to finish off the scheme. Before this point I had not needed to use a lender. Avamore Capital were great; they quickly structured the loan to suit us and you could tell that the team was highly experienced as they felt comfortable stepping into a project partway through the build. They worked with me to ensure that the deal got done and thanks to the lender, I was able to continue working on my conversion project within my initial development timeline.”

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