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Property Investment of Georgian Mansion and Estate
Residential Investment Loan for Georgian Mansion and Estate in South Yorkshire
Loan Value: £900,000
An experienced client with an already large portfolio of properties, required finance to be able to purchase a Georgian country mansion.
The Interesting Stuff:
The impressive Georgian country mansion had already been partly converted into holiday lets, and our client saw the potential in expanding and developing the property further. They were looking for planning permission to be approved on a wing of the main building.
There was no debt associated to the property, and it had a mixture of uses in the past, in fact it had also recently been used as a location for some filming. The property did have a current income from the holiday lets, yet that was not enough to release the capital needed with traditional but-to-let lenders.
We were able to utilise the clients existing portfolio income to anchor the finance, providing a 10 year term on a 5 year fixed product, at very good rates. This was quite unusual because most investment lenders require the property’s income to pay the interest.
The request including splitting the title of the property to enable the client the ability to organise funding for the development aspects, without it impacting the residential investment loan.
How we helped:
Not every lender will support requests associated to grand stately homes and in this case a Georgian country mansion. With our knowledge of who to apply to, we were able to avoid unnecessary time delays, get the funding approved and help our client expand their portfolio once again.
Our help in action …
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