Client: A charitable organisation preserving a historic country estate in Northumberland.
Purpose of Loan: To refinance an expiring facility and raise additional capital to complete high-spec refurbishment works.
Loan Summary:
- Loan Amount: £1,251,000 (Net advance: £1,060,848)
- Term: 12 months (8 months interest retained)
- Security: 1st legal charge over a Grade II listed 14,616 sq ft country house and separate 2-bed cottage; Personal Guarantee from trustee
- LTV: 40.23% Gross (on MV), 60% Gross (on 90-day value)
Challenges:
- Tight deadline to refinance a maturing loan
- Property still mid-renovation with outstanding works
- Complex asset comprising large main residence and ancillary cottage
Outcome:
- Facility completed allowing the refinance of the existing lender and funds to finish works
- Charity now marketing the property as an events venue with planned sale
- Structured with interest retained for 8 months
Added Value: Provided a fast, bespoke funding solution backed by strong security and clear repayment strategy.
