Our clients' situation
Our client owned a substantial holiday let estate set within more than 30 acres and split across three separate title deeds (the legal documents confirming ownership). They wanted to remortgage and raise additional capital to build new tennis courts on the grounds.
Their financial position was equally intricate, with multiple income streams from a combination of employed and self employed roles, including senior directorships and board positions. The client also needed a relatively short mortgage term with the majority of the borrowing arranged on an interest only basis — where monthly payments cover only the interest and the loan is repaid later through an agreed strategy. They also wished to retain only a modest amount of equity after the part repayment element, which added another layer of complexity and required a lender comfortable with this structure.
The client held a public appointment, meaning identity and governance checks needed to be handled with particular care. This was a highly bespoke case involving complex income, a large rural estate, multiple title deeds, and nuanced lending requirements — all calling for a lender able to take a flexible, relationship based approach.
Alexander Hall's solution
Our adviser reviewed several options before identifying a private bank — a lender experienced in supporting high net worth and complex scenarios — as the best fit. After discussing the details with his contacts there, he completed a managed handover so the bank could begin their onboarding and assessment.
The bank agreed to treat the application as a residential mortgage (rather than a commercial or holiday let product) and offer their standard residential rates, on the condition that the property continued to be let for 175 days or fewer per year, matching the client’s established pattern.
To assess income, they accepted the most recent two years of SA100s (Self Assessment tax returns) alongside employment contracts, instead of requesting documentation for each separate income source.
The size of the estate did not present an issue, as the bank regularly handles large plots. They were also comfortable with the interest only structure and the planned sale of the property as an appropriate repayment plan.
Although the underwriting — the lender’s assessment process — was detailed and took around two months from handover to mortgage offer, the outcome was excellent: the client secured a competitive fixed rate and completed soon after.
This case highlights the value of our relationships with private banks and our ability to navigate complex, high value scenarios. Our adviser’s persistence and knowledge ensured the client achieved the right outcome for them.
To talk to one of our advisers about your mortgage needs, call us on 08000 38 37 36 or book an appointment today.
This is for information only. Products and rates vary depending on your circumstances, lender criteria and products available at the time.
