Whistler Ski Chalet for a London HNW Investor
CAD 1,850,000 · 25 years · 5.50% fixed 5 yrs. A London investor purchased a luxury ski chalet in Whistler Blackcomb as a holiday investment.
The Client
HNW Investors
The Challenge
A London investor purchased a luxury ski chalet in Whistler Blackcomb as a holiday investment. Non-resident foreign buyers in Canada are subject to the Foreign Buyer's Prohibition Act restrictions in some areas, so legal due diligence on eligibility was essential. Whistler's resort zoning allows foreign purchase in certain property categories.
Our Solution
Doulton co-ordinated with a Canadian property lawyer to confirm the chalet's eligibility under the Foreign Buyer rules. A non-resident Canadian mortgage was placed with a lender experienced in Whistler resort lending. British Columbia Property Transfer Tax obligations were confirmed.
The Outcome
Chalet purchased in an eligible category. Ski season rental income from a Whistler property management company generating CAD 120,000 in year one. Property also used personally for two weeks per season. Key highlights: Foreign Buyer eligibility confirmed by Canadian lawyer; Whistler resort mortgage placed successfully; CAD 120,000 rental income in year one from ski lettings.