Mortgage for Grade II listed Norfolk country house, turned down by previous lender

Area
Norfolk
Capital Raised
£337,500

The Scenario

This should have been a straightforward purchase of a gorgeous four-square Grade II-listed Norfolk country house, with a lovely Georgian façade, and its adjoining 17th-century property.

Together they offered no less than nine bedrooms and four bathrooms, plus rambling gardens, for £895K.

Our clients were selling their London house for over £600,000, so they didn't expect that finding finance would be a problem.

Virgin Money seemed keen to offer a mortgage, but when they drilled into the details of the title they didn’t like the fact that there were barns just across the adjoining laneway, not included in this sale, which could be redeveloped.

And they didn’t like the fact that the laneway was more like a farm track than a finished road.

So by the time the clients came to us they’d wasted precious weeks getting nowhere with their prospective lenders, and the vendors were getting anxious about securing a sale.

The Solution

We knew which bank to go to who would be much more relaxed about this type of rural property.

They weren’t concerned about the possible development of the neighbouring barns, taking the view that sympathetic redevelopment would most likely raise the profile of the village. We were able to secure finance in time for the sale to go through smoothly.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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