Complex residential & holiday let joint purchase
Our client needed our help to complete a transaction that involved the purchase of a large rural property, with multiple annexes and a separate holiday let on its own title deed. He planned to sell their existing family home and combine the proceeds of sale from his father’s property to enable a multi-generational living set up. The presence of multiple annexes, and a large gifted deposit from a family member who would be living in the property but not party to the mortgage, necessitated careful selection of lender.
We came devised a solution whereby the client’s property investment company purchased the holiday let on one mortgage and the residential property was purchased through a different lender. This enabled us to maximise the affordability available by using the holiday let income in a discrete transaction, which enabled the client to maximise available funds to put towards other associated costs of moving and establishing a new home.
