Saffron for Intermediaries has completed a £4.8m self-build mortgage, its largest residential loan to date, with the help of Propp.
The loan will fund the renovation of a high-end family home in Kensington, London.
The borrower, a high-net-worth (HNW) individual and leading lawyer, planned major works including glass-sided extensions, a full basement for a private cinema, and a custom kitchen costing £250,000.
The loan amount was higher than Saffron’s usual £4m limit, but the deal was agreed after discussions began over a year ago.
The lender’s underwriting team worked with Propp to secure internal approval for the extra funding.
The loan completed at 70% loan-to-value (LTV), despite some challenges such as a down valuation.
Lee Williams, national sales manager at Saffron for Intermediaries, said: “This was a standout case in every sense – a high-calibre client, an ambitious project, and a result that exceeded the boundaries of standard lending.
“But more than that, it’s a powerful demonstration of what can be achieved when you bring the right people together.
“While this project represents the top end of the self-build spectrum, it’s important to remember that self-build lending is accessible to a wide range of borrowers, not just high-net-worth individuals.”
Williams added: “Without Propp’s insight and involvement, this deal wouldn’t have landed.
“It speaks volumes about what’s possible when we combine specialist knowledge with genuine partnership.”
Peter Williams, CEO at Propp, said: “This was the kind of project that tests the boundaries of traditional lending.
“Another broker might have told the client it wasn’t doable, but by bringing our specialist expertise to the table and working closely with Saffron, we were able to structure a deal that supported the client’s vision from start to finish.”
