Value Enhancement and Removal of Planning Restriction

A development of 3 new detached houses in with a restrictive planning consent for holiday let accommodation only.  The holiday-let project failed resulting in the borrower defaulting on their mortgage and effectively running out of funds. 

The Receivers proceeded to let the properties on an assured shorthold basis; paying the monthly mortgage and using the excess profit rent to fund a planning application and subsequent appeal costs that resulted in the successful removal of the restriction and an immediate increase in value circa of 30% , facilitating full recovery of the mortgagee’s outstanding loan, arrears and fees and mitigating liabilities remaining on the borrower.

How can Vail Williams help?

Contact us today and find out how we could help your business.
* denotes mandatory field