Case Studies

Retired clients aged 74 and 73 owned 2 houses adjacent to each other in Tunbridge Wells. They resided in the larger house and the smaller was rented to generate an income. The tenancy on the smaller house had ended and the clients wished to now find a way to gain finance to remodel and update the smaller house to their own taste, move into the smaller property and then sell the large house. Refurbishment works included demolishing an existing garage to create an Orangery and works to the cellar/attic space to bring both into regular use. The space providing an additional bedroom, multi-purpose room, fitness suite, wine cellar and utility. The equity released from the larger house provided much needed capital for the clients retirement and the remodelled house was a smaller, more cost-efficient home for their retirement.

We provided a facility of £275,000 secured by 2nd charges over both properties and agreed stage releases, allowing the clients to use ‘just in time’ tranche funding, saving on interest costs until monies were required.

Client, aged 93 with £15,000 pension income per annum wished to move from his £1m house (no mortgage) to an assisted living luxury apartment. Purchase Price £595,000.

Client had £100,000 savings towards the apartment and needed to act immediately to secure the in-demand apartment. His bank of 60 years declined to assist due to policy age and income restrictions.

Having no maximum age and in this instance the clients background income not pertinent to the repayment of the loan, we provided the monies required which also covered stamp duty. We were repaid within 3 months once the main residence sold. The client was delighted that our interest is paid when the property was sold, with no monthly payment burden.

On separation, the couple agreed that on their children reaching 18, they would divorce. The lady, in this case, had been gifted properties in central London and had received a generous monthly payment and use of a credit card, both being withdrawn shortly before divorce proceedings were due to commence.

Whilst a large divorce settlement was expected, the lady had no provable income and her lawyers required an up-front payment of £300,000 to act. We took a 1st Charge over a London property, to secure the facility. This was a high-profile case which resulted in our client being awarded a settlement in excess of £200 million.

Clients aged 65 and 53 wished to jointly purchase a larger property with applicant 1’s mother who was 91. They wished to relocate to Somerset and the perfect property with an annexe came on the market. The clients and mother intended to sell their respective houses however the mothers property had only just been listed for sale. We provided a loan of £475,000, secured by first charges over the mothers house in Coventry and the purchase property in Somerset. The advantage to the clients being that repayment of our loan could come from the sale proceeds of whichever of their respective houses sold first, whilst securing the ideal home for their requirements.

Married couple both aged 65, inherited a house from their late relative in Sevenoaks valued at £1m and mortgage free. The clients themselves resided in a modest house on the Isle of Wight. Whilst their intention was to sell the inherited property and upsize using the proceeds, the perfect house came on to the market on the Isle of Wight ahead of its sale. Wanting to act quickly and secure the purchase, we were approached to lend £400,000, secured against the inherited property. The clients were able to negotiate a reduction in the asking price of the new home on the isle of Wight in return for a quick completion.

Husband & Wife, both highly regarded TV producers, retiring to Spain and needed a contribution to the purchase of retirement property. We were given a charge over their Mews property in London which was held in a Limited Company. The London property was then sold in due course and our loan repaid.

Clients resided in St Johns Wood, North London and owned a 3-bed semi-detached home, estimated value £2.25m. A larger, 4-bed Victorian villa came on to the market at £2.695m which had the benefit of a 50-foot walled garden and the clients made on an offer on the property. The property was a ‘must-have’ purchase for them, being located in the same catchment area for local schools, having an extra bedroom for their growing family and the large walled garden, an unusual attribute for a property in this location.

The clients had lined up the sale of their existing home, however, the buyers retracted from the purchase and, as the clients did not wish to lose their new ideal property being purchased, we provided a facility of £2.875m to cover the purchase and associated fees. Repayment in part, came from the sale of the existing property once a new buyer was found. A remortgage of the purchase property was then arranged to fully repay our facility. By overlapping ownership of the 2 properties, the clients also had time to conduct some light refurbishment to the new home, without having to ‘live through the dust’.

After trying to finalise an estate for some years, Lawyers approached us to see if we could assist them in freeing a “log jam” caused, in part, by beneficiaries having fallen out.

A solution was reached by Oakbridge providing funds to pay an outstanding instalment of Inheritance tax, selling agents and legal fees. We also provided funds to make an interim payment to the beneficiaries. This freed the “log jam” and the estate was finalised within a very short period. Oakbridge took a 1st charge against an unoccupied detached residential property which was not part of the estate, pending its sale as the exit to repay our facility. We agreed to advance the requested amount of £230,000 for 6 months (and roll up the interest and the fee). The loan was subsequently repaid in 77 days.

A Directors loan had been provided to one of the Directors of a family business (Net Worth £13.5m) to refurbish a central London property. Delays in completion of the works made a traditional mortgage impossible, which meant a potential tax liability for the Director. We provided a facility of £958,000 secured by a 1st Charge over the family home in Hale, Cheshire. Our facility was repaid when refurbishment of property was completed and the London property sold.