The project is a serviced bridge loan for the purchase of 13, Musgrove, Ashford, Kent. The lenders will receive interest at a rate of 0.604% per month, 7.25% per annum equivalent. Ashford is a town in the county of Kent with a population of 74,000 (2011 census). 28% of the county forms parts of 2 areas of outstanding natural beauty, the South Downs and The High Weald also known as the North Downs. The town lies on the south edge of the North Downs and is approximately 60 miles south east of Central London. The town has a strong transport network providing links to London and the Channel Tunnel - Ashford to London is 1 hour by train. Neighbouring towns include Maidstone - 20 miles to the north west via the M20 and Folkestone, 15 miles to the south east. Canterbury is approximately 15 miles to the north via the A28. Ashford also has an international railway station with trains to Paris, Brussels and other connections to the rest of Europe. The town is renowned for its range of facilities, cleanliness and low crime rate. Additionally, the award winning McArthur Glen Designer Outlet is within 1 mile of the property with approximately 70 retail outlets. The property is located within a residential area to the south of the town centre and backs onto a sports ground. It comprises a 2 storey end of terrace 3 bedroom house of rendered concrete elevations under a pitched tiled roof. The property has a large garden to the rear and side. Total size is 969 sq. ft comprising:- Ground floor - Kitchen, lounge, dining room 1st floor - Three bedrooms and separate bathroom The borrower's strategy is to submit planning to extend the property by way of a 2 storey rear extension and convert the property to a 6 bed HMO. The borrower will then exit the CrowdProperty Bridging loan and refinance onto a Development loan. The Borrower aims to exit the Bridge as soon as possible, with a view to commencing the HMO project.
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