Fully Funded

Exning Road, Newmarket, Suffolk, CB8 0AB

Please note, for this project, pledges will be limited to a maximum of £0 until 10.05am. After 10.05am, you can create pledges larger than £0 or increase the size of your pre-existing pledge. This is subject to the project amount remaining which needs to be raised.

loan amount

£530,000

interest paid*

8%

funds pledged

£529,050

number of investors

299

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 15 months

security

1st charge

project phasing

1 of 1

total loan facility

£530,000

floor area

3521 sq.ft.

rics valuation

£400,000

cost of work

£250,000

est. sales value (gdv)**

£890,000

initial loan to value

70.00%

loan to gdv

59.55%

owed at exit to gdv***

66.61%

strategy & vision

This will be a single raise totalling £530,000 to provide funding for the renovation and extension of the existing house and the construction of a new dwelling in the garden.

52 Exning Road, Suffolk, Newmarket, CB8 0AB is located 14 miles to the east of Cambridge and around a mile from Newmarket town centre. Newmarket has a population of circa. 20,384. Exning Road is one of the main arterial routes running north west out of Newmarket with private housing fronting both sides of the road.

The site is approximately one hour from Luton airport and is located 17 miles from the M11. Newmarket is renowned for its racecourse located just 2 miles from the site. With bus links to Cambridge and Bury St. Edmunds coupled with Newmarket train station being located circa. 1.5 miles from the site, this creates easy access to London and the surrounding areas. Further amenities include Newmarket Community Hospital and Newmarket academy all being less than a mile from the site.

exit strategy

Upon completion of the project the borrower will look to let the properties, re-finance and hold both units.

indicated return for your pledge
interest
total
min. loan (6 months)
£200
£5,200
15 month loan
£600
£5,600

CrowdProperty Comments


Zak is in partnership with Fred Walemba on our loan at Six Mile Bottom. He has shown his ability to progress the works on all 4 of these units such that we are expecting repayment of the loan in full and on time. Having already commenced work at Exning Road the borrower continues to show his ability to manage and deliver projects.

The

CrowdProperty

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Rigorous due diligence
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*Please see full risk warning
**Estimated Sales Value is more formally referred to as GDV - Gross Development Value
***Owed at exit to GDV is calculated as the total capital + any planned loan interest against the RICS GDV for the project. These figures do include subsequences on projects funding development costs during the course of the project.

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Your capital is at risk. No FSCS protection. Past performance is not an indicator of future results. Tax treatment depends on individual circumstances and may change. full risk warning.

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