£1.3m New Build Purchase Completed in Six Weeks – High-Rise Lending and Let-to-Buy Structuring
What was the situation?
Our clients, a married couple and foreign nationals, approached LDN Finance regarding a new build purchase in a Docklands high-rise development. Their existing London residence was held mortgage free.
The developer was offering a £100,000 discount against the original £1.4m list price, conditional on completion within six weeks. The saving was significant, and the deadline set the pace for the entire transaction. With a sale of the existing property unachievable within the timeframe, the clients wanted to let it for around twelve months, with a sale to follow.
What was the issue?
The new build property sat within a 60-storey tower, and lenders apply restrictions on high-rise residential lending at this scale. With completion required at pace, the case demanded a lender that could accommodate the building type and complete within the timeframe.
Bridging finance would have been the conventional route to manage a timeline of this length. However, the clients preferred a residential structure for the rate position and longer-term certainty it offered over short-term lending.
Two simultaneous mortgages were required to deliver the transaction: a let-to-buy on the existing property to release the deposit, and a residential mortgage on the new purchase, with the let-to-buy completing first.
What was the process?
Colin Anderson, Executive Director, identified a lender whose large loans team he was confident could accommodate the building type and complete within the timeframe. Drawing on the established relationships LDN holds across the high-value lending market, the case was positioned at the right level from the outset.
The let-to-buy mortgage was placed in parallel and structured to allow redemption at the point of sale, without product ties or early repayment charges. This aligned the mortgage with the clients’ planned holding period, providing the flexibility required as their position developed.
Expert project management across all parties was central to delivering the transaction. Colin recommended a solicitor selected for proven capability on transactions of this pace, ensuring the legal pack was in place ahead of completion. The valuation on the new build returned without issue, and the purchase price was recognised as below open market value.
What was the solution?
Both mortgages completed inside the developer’s window. The clients secured the £100,000 saving in full, on a transaction that demanded precise lender selection, the right legal team and expert coordination across every party.
The new residential mortgage was secured at 85% LTV against a £1.3m purchase price, on competitive terms aligned with the clients’ wider position. The let-to-buy mortgage was placed without product ties, providing a clean exit at the point of sale and aligning the structure to the clients’ twelve-month holding plan.
Colin is known for cases at this end of the market, where high-value lending sits alongside non-standard property and time-critical delivery. The transaction reflects the access, judgement and execution he brings to cases of this nature.
High-value lending solutions with LDN Finance
Are you looking to purchase a new property but have a complex income structure? We’re here to help you find a solution – no matter how complex your circumstances. At LDN Finance, our specialist brokers have extensive experience in providing creative solutions to secure large loans for our clients.
We work closely with our trusted network of private banks and both high street and specialist lenders to arrange bespoke mortgage arrangements to suit your circumstances at competitive, market-leading rates.
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