We made available a facility of £200,000 to provide working capital, secured against an unencumbered investment property located in the London Borough of Lewisham. The security comprised a centre terraced two-storey residential building arranged internally as two un-self contained flats. The applicant had recently completed the purchase of the security property in cash and was looking to release some equity in order to complete a purchase of a further property. The facility amount equated to 43% of the market value figure of £465,000, with interest charged at 0.99% per month.
