A jaw-dropping £3.2m finance deal has allowed a landlord with a growing London property portfolio to expand it further.
The £3.2m loan, agreed on a 30-year interest-only term with an initial five-year fixed rate, enabled the landlord to release equity on two existing properties for future investment.
The properties, valued at £4.54 million, included a mix of shops and residential flats, some of which were still under development at the time of application.
It was agreed the loan would be drawn down upon completion of the flats, allowing for a full valuation to reflect the final asset value.
The properties are all reported to be in Enfield.
The deal was led by Redwood Bank.
This article is taken from Landlord Today