Due to product demand, and as a result of lender feedback, we have reintroduced a pledge limit for this project, on a trial basis. This is to give those that take valuable time to perform necessary due diligence the greatest opportunity to successfully pledge at 10 a.m. Pledges will be limited to £5,000 for the first 5 minutes that the project is live. Post 10.05 a.m pledges greater than £5,000 can be created, or an existing pledge for this project can be increased (subject to availability). This project comprises the construction of a new residential dwelling on a small infill site. CrowdProperty has agreed a total loan facility of £260,000 for a term of up to 12 months, to be raised in a single raise. The day 1 release is £90,000. Interest is retained and Lenders will receive interest at 7.6% per annum equivalent paid monthly. The project is situated in the London Borough of Haringey, to the South of the borough in the South Tottenham / Stamford hill area. It is approximately 5 miles North of central London in good proximity to Stamford Hill and South Tottenham overground stations, both within 0.3 miles. The local area is primarily residential comprising mostly 3 storey period buildings in terraces. Some buildings are still in single residential use but many have been converted to flats. The existing property was historically a scrap yard now disused and cleared. It is a small triangular site in shape between existing residential dwellings. Planning permission was granted by London Borough of Haringey (planning reference: HGY/2019/1731 granted in August 2019) for the development of land previously used as a scrap yard into a new one bedroom dwelling. The development will total some 635 sq ft (59 sq m). The borrower has purchased the property outright and obtained the planning consent using their own funds.
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