Property developer Nick Candy took out an £80million mortgage on his penthouse at One Hyde Park, Knightsbridge. The loan is believed to be one of the largest ever advanced on a British residential property.
Mr Candy raised the mortgage whilst transferring the penthouse from one corporate vehicle to another creating an effective purchase with Land Registry. At £160,000,000, this is the highest residential sale in UK history.
Enness Managing Director, Hugh Wade-Jones, discusses what a mortgage of that size would look like in reality.