Tunbridge Wells £1.4m

Residential Bridge

Gross Loan

£1,482,371

Loan Type

Residential Bridge

Term

9 Months

LTGDV/LTV

61.1%

Annual Rate

6.5%

Monthly Rate

0.542%

The detached 4 storey building had been converted into 7 self-contained flats. The borrower required exit bridging against to site. High Brooms train station is located 1 mile from the property. This is a 20-minute walk away; there are also regular buses from a stop that is a 1-minute walk from the property.

Additionally, the flats are situated in a mixed residential and retail location in close proximity to supermarkets and restaurants. The ground floor flat has its own garden with the remaining units benefiting from a communal garden; several of the flats also have their own balconies. Avamore’s exit bridging suited the borrower’s circumstance.

“Avamore immediately mobilised a large team of decision-makers and underwriters to move the transaction forward at pace. Avamore’s quick and efficient underwriting meant they were able to highlight to my client exactly what he would need to do complete within the two-week deadline”

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