Tuscany Farmhouse Renovation for a London Professional
€310,000 · 20 years · 3.80% fixed. A London-based architect purchased a partially restored Tuscan farmhouse near Siena.
The Client
UK Residents - Holiday Home
The Challenge
A London-based architect purchased a partially restored Tuscan farmhouse near Siena. The property required significant further restoration work. Italian mortgage lenders were cautious about the condition of the property, and the renovation element complicated the standard loan-to-value assessment.
Our Solution
Doulton placed the mortgage with an Italian bank that assessed the property on its post-restoration value, using an Italian geometra's estimate of restoration costs. The mortgage was structured with a retention released on completion of key restoration milestones.
The Outcome
Farmhouse purchased and restoration underway. First retention released at month six on confirmation of structural completion. Used as a personal holiday home with the option to let during summer weeks. Key highlights: Post-restoration value used for LTV assessment; Retention structure released on milestone completion; Italian geometra co-ordinated for cost assessment.