adrian77
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Post by adrian77 on Jan 16, 2018 19:53:49 GMT
This one looks very expensive to me - granted it is Edwardian but it looks to me as if all the original features have been ripped out. Found it on the internet and I read
Can somebody enlighten me as how a flat can be valued if the lease details can't be confirmed...
In addition this is second charge (albeit a small one) so yet another property loan I am going to pass on.
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mikes1531
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Post by mikes1531 on Jan 16, 2018 20:58:12 GMT
Found it on the internet and I read Can somebody enlighten me as how a flat can be valued if the lease details can't be confirmed... That's easy to answer... Valuer assumes lease terms won't be onerous. They state that in their valuation and thereby insulate themselves from any possible repercussions. A 55% LTV second charge behind a 41% LTV first charge doesn't look too bad, and if it's really for sale at £280k then it could sell for half that price and still comfortably repay both of the charges and accrued interest. Of course, the borrower might not be willing to accept a low offer, so the sale could drag on for a bit. It's rather too modern/minimalist for my taste, but that probably says something about my age. 
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