Cornwall Second Home Mortgage

A UK resident foreign national from Singapore, a successful trader, approached Fox Davidson to secure a £2.8 million interest-only mortgage for a sprawling coastal estate in Cornwall, valued at £4 million. The client intended to use the property as a second home and occasional rental investment, prioritizing low monthly payments to maintain liquidity for trading activities.

The client’s income was derived entirely from base salary and vested stock The estate’s remote location and partial agricultural use added more complexity. The client also required a flexible mortgage allowing overpayments without penalties.

We recommended a boutique lender specialising in large loans for non-standard properties. We secured a £2.8 million interest-only mortgage fixed rate for 2 years, with a 70% loan-to-value ratio. By providing detailed documentation of the property and its partial agricultural use, Fox Davidson satisfied the lender’s underwriting criteria. The mortgage included a penalty-free overpayment facility.