conversion of a Manor House and 4 New build houses

1. September 2011 MR HEWITT
MORTGAGE FOR SALE BY SYNDICATION - 12 % - PA
MR R HEWITT
4 part built townhouses, The Manor House, Wereham
Helmsley Acceptances Limited has agreed a Loan to the above named Borrower. The Loan is in
connection with a site in Wereham, a pretty village located equidistantly between Kings Lynn and
Thetford and is approximately 5 miles east of Downham Market on the borders of west Norfolk.
The Loan is in part to repay an existing debt to the HSBC and then to fund the build cost in connection
with the completion of build works for four part built 3 bedroomed mews cottages/town houses,
together with the completion of refurbishment works of 1 unit within the listed Manor House.
The Loan which will be secured by a first legal charge over the entire site will be for a period of 12
months; total funding of £485,000 will be required. £260,000 of this will be used to discharge the debt
to the HSBC with the remaining £225,000 being used to fund the necessary build costs. The listed
Manor House referred to above is being converted to 3 separate four bedroomed properties. At the
present time Helmsley’s loan is only in connection with the first of these properties which has already
been converted to "second fix" basis and really only requires final fittings before this can be sold / re-
mortgaged. We understand that it is Mr Hewitt’s present intention to occupy this first property within
the Manor House himself after having obtained a re-mortgage, which will be used to repay part of our
loan within the 12 months loan period. As regards the 4 Mews Town Houses also to be funded Mr
Hewitt presently has an open mind as to whether these will be offered for sale on the open market or
rented out. He has already acknowledged however that if necessary he will retain these for investment
income and obtain buy to let mortgages to repay the remaining part of our debt. The build costs will be
paid over to the Borrower on a monthly basis and only once the monthly build cost valuation has been
formally certified by Helmsley’s retained Quantity Surveyors, who in this instance will be Macwell
Property Consultants who are located in Cambridgeshire and cover East Anglia, the Home Counties and
London.
Local RICS registered valuers Russen & Turner have been instructed to produce a valuation in
connection with the above property to establish the gross development value of the scheme which we
will be funding. This report is still presently outstanding however Helmsley has already seen separate
third party agency advice which suggests that the total value of the units to be funded by Helmsley
should be a little over a £1 million. Hence with our loan being £485,000 we feel this provides an
attractive loan to value ratio.

2. September 2011 MR HEWITT
The front of the Manor House and the access to the townhouses
Rollits solicitors are to be instructed with regards to this particular loan opportunity. It is confirmed that
Helmsley will only progress this loan once we have a clean Report on Title that confirms there are no
significant legal issues in connection with the loan or the property. Please note that all Loan Participants
will be specifically named within both the Valuation and the solicitor’s Report on Title to ensure that
they can rely on the contents of both of these Reports when deciding whether to participate.
The total funding requirement of £485,000 means that client investors can be offered a return on their
investment equivalent to 12% per annum. Interest in connection with this loan will be "rolled up" and
will be repaid to client investors at the end of the 12 month loan period.
Helmsley are pleased to offer its client investors the ability to participate in this loan for sums of
£25,000 and upwards
The Village setting and the rear of The Manor House showing the unit to be initially funded
THESE DETAILS ARE PRIVATE AND CONFIDENTIAL AND MUST BE TREATED AS SUCH AT ALL TIMES
AND CANNOT BE DISCLOSED TO ANYONE ELSE WITHOUT
HELMSLEY’S PRIOR WRITTEN CONSENT
HELMSLEY ACCEPTANCES LIMITED
COLENSO HOUSE, OMEGA 1, MONKS CROSS DRIVE
MONKS CROSS YORK YO32 9GZ.
TELEPHONE – 01904 682800 - FAX – 01904 682808
The Directors of Helmsley Acceptances Limited have taken all reasonable care to ensure that the
information given herein is true and accurate. No liability or responsibility is accepted for errors and
omissions. The value of the security detailed can fall in value, as well as rise. If there are any doubts or
queries, you are advised to contact your professional advisers. The payment of interest quoted is
dependent on the borrowers paying under the terms of the Mortgage.