New Luxury Mansion | Edwalton Nottinghamshire | Guy Phoenix .

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Hermitage Edwalton

 

Hermitage is possibly one of the most impressive homes ever built in the United Kingdom. Located in central England within the desirable village of Edwalton Nottinghamshire. Edwalton was recently voted in the top ten places to live in England and Wales and continues to ascend in the list.

 

The affluent habitat is close to the vibrant town of West Bridgford and boasts some of the most sought-after schooling and property in the county.  Easy access to the M1, Derbyshire and Leicestershire also, this location has proved ideal for those commuting to larger cities as well as working locally. Newark station just down the A46 enables easy access into central London in just over an hour on the newly improved fast line train service.

 

After two and a half years on-site, the “Hermitage” is ready to be launched to the market. This 7-bedroom state of the art new build simply must be viewed to appreciate the quality of its construction. Seldom before have we seen the attention to detail applied to a residential home. The over-engineered structure and insulation values attracting interest from professionals in the energy field. Why … and how does the company do it? We’ll ask Guy later, but I do know that it isn’t that Guy doesn’t trust those engineers involved, quite the contrary but he asks that they cooperate and understand his willingness to oversize all those components necessary in house building.

 

Guy is keen to be able to alter internal layouts should he wish at any stage of the process and subsequently supporting walls within the structure so there is an emphasis on freedom of internal design during the early stages.

 

“Whereas I appreciate engineers, building control officers, warranty providers all have a job to do in policing the project, I must retain the capability to change the layout should I want, and I always do.” Ultimately this is how Guy and his team are able to deliver such an outstanding design that fits so well into the surroundings.

 

Of course, with modern technology and CGI, architects and alike can now effectively design and build your home virtually in advance and this is something they are looking at closely for future developments.

 

On entering the property, you are immediately confronted by a vaulted space with the helical staircase winding up through the floors of the property. A chandelier that appears to rain light hangs through the centre with each strand staggered randomly creating the effect. The floor is neutral polished tile reflecting the lighting, the finishes and completing the medium of the room. A walk over circular glass floor showcasing the rippling deep blue water of the swimming pool beneath. Within the entrance hall a cloak toilet that any house owner would be proud to present as their master en-suite.

 

Guy explains that with the assistance of Giorgio Armani partnering with Rocca together Armani Rocca and Guy Phoenix have collaborated to create beautiful simple bathrooms. They have supported him in supplying the sanitary ware and tiles in every bathroom in the main house. “Never have I been so satisfied with the finish, the colour and the design of bathroom fittings “. He continues to explain the new process of the finish to the metal, PVD

(Physical Vapour Disposition) and how pleased he appears to be with the smooth finish end result.

 

Turn left into the kitchen and witness what you would expect to see in a palace or castle. With Gaggenau also joining the parade this kitchen is neutral but framed in gold and black. The handles, the hinges, the beading all based on this champagne PVD encompassing the gold, bronze theme running throughout the house.  A breakfast area is attached to the kitchen through double doors should you want additional seating other than the bar area, fixed table seating and lounge area it already offers. More comfortable seating for those who wish to relax whilst dinner is being prepared, presumably by someone else.

 

Continue through to the utility room housing no less than 3 washers and dryers as well as enough room to play billiards. The garage is off this room with underfloor heating so those expensive tyres of the sports cars don’t get chilly. Up the stairs to the self-contained annex that could serve as teenager Accommodation, somewhere to store the Mother in Law or even servants’ quarters depending on how lucky your money has made you.

 

With gilded wallpaper, walk-in wardrobe and Gaggenau appliances in the large living kitchen I’m wondering how I apply for a job as a servant to experience this lifestyle.  Back down onto the ground floor and following previous footsteps you arrive at the dining room. Just like every other room on this level, the ceilings are almost four meters high, the diner fixed with yacht panelling cleverly lit around and from the edges. A large round table easily accommodating 12 for Sunday lunch. To the side, a small curved room dedicated to Dom Perignon champagne storage. The colour of the shield replicated in the handles and trims in every aspect of the house.

 

Guy explains that the shield on the bottle was his inspiration to the colouring of the property. Whether it be the strips under the doors the hinges, handles or light fittings this gold/bronze colour works so well and almost authenticates his own trademark, “True Luxury “

 

Back through the hallway and through the lit stone resin framed doorway, office one is on your left, completed in the light patterned concrete board Guy has come so fond of. With ample storage and a stunning view out over the garden this office is private yet somehow doesn’t feel detached from the rest of the house. The glass doors allow you to work in peace but keep an eye on those children that might be dashing around.

 

The lounge is next and certainly spacious yet extremely homely. An open fire with odourless/ smokeless flames flicker in the room. The bespoke lighting mesmerising. To the right, a bar and cinema with acoustic screening and sound technology any commercial theatre would be proud of.

 

The soft step shallow tread staircase allows you easy access the first floor. First on your right a large bedroom with walk-in wardrobe and en-suite. Colouring the same theme, luscious headboard, designer light fittings and wallpaper. Across the hall, a protected room doubling up as a second office if needed but also the security hub. From here the house is controlled and monitored. Every elevation closely watched by a high definition camera just considering those in frame. The fully automated home can control its own heating, lighting, sound, TVs, even lock certain doors, open gates, put the fountains, even flush the toilet if you so wish. With future-proofing considered the specialist electrician like Guy is a perfectionist.

 

Suite one is probably the most luxurious master bedroom I’ve ever seen. With its own sleeping area, large sitting room, fridge, coffee machine (Gaggenau of course), 2 walk-in wardrobes no less and standard Armani en-suite bathroom. Just one issue …. it’s not the master bedroom. What? How can this be?

 

Opposite you walk back across the landing slowly nodding your head in approval at the boutique 5-star hotel feel the home gives you.

 

Then the master bedroom. Without a doubt, this bedroom is up there with the most extravagant bedrooms on the planet. Supporting a dressing room Giorgio himself would endorse in a Paris retail outlet. A private office and lounge, an Armani bathroom of course with his and her showers and vanity units… two balconies. I’m wasting my time trying to describe with words this room. Stand in it, fold your arms and absorb the luxury that Guy Phoenix has obviously put so much effort into this single masterpiece. Or even better wake up in the morning in the 12ft bed and remind yourself that you too must be the best at what you to experience what this house offers.

 

Up again the spiral stairs to three more bedroom suites all capable of carrying the mantle of ‘master’… ample storage, enormous beds, captivating lighting and luxury through and through.

 

The home has been targeted by no less than a dozen companies wanting to showcase and enter into different awards for an exceptional single unit. For now, Guy wants to hold off and just deliberate that what he and his team have created may well be one of the finest homes ever built.

To start your journey to a Guy Phoenix home call 0115 860 0036

 

If you would like to advertise your development or company with Hank Zarihs Associates please call us on 020 3889 4403 or email connor@hankzarihs.com.

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Shiraz Khan
Stay informed with the latest news, market trends, and expert guidance on bridging loans, development finance, and UK real estate investment. Our blog is here to support your property journey with clear, practical advice.
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Frequently Asked Questions

You may have heard about bridging loans in the context of property investment or moving house, but what exactly are they? Basically, bridging finance is a type of short-term loan that allows a buyer to purchase a property before their existing home or investment property is sold. As the name suggests, it ‘bridges’ the funding gap in the lag between purchase and sale – offering rapid access to the necessary purchase funds for a brief period of time.

Borrowers can access from £5,000 to £250 million, depending on applicant status, the value of the property and other lender criteria. Higher lending amounts are typically reserved for borrowers who can put up several properties as security. Quotes are provided on a Loan to Value (LTV) of 65%-80% in most situations.

Bridging loans can be used in a number of situations. For example:

  1. When people are moving home in a chain, with a gap between completion dates (e.g. needing to pay for the new property before receiving funds on the completed old property).
  2. When property investors or private buyers renovate a home and want a rapid sell-on.
  3. When an individual is looking to buy a property at an auction.
  4. When property investors and developers are looking to pay a tax bill
  5. When buyers want to secure finance against an uninhabitable property.

This type of finance can be used by homeowners, landlords and property developers alike.

The bridging finance market has grown rapidly, with a number of small and focused lenders now on the market, catering for specialist property finance needs. The market has changed because large high-street lenders have become less willing (and sometimes less able) to lend ever since the financial crisis of 2008.

As to whether a bridging loan for property development, auction purchase or private home buying is a good idea, it depends on a variety of factors. Bridging loan requirements vary by lender, but each will have certain common features that need to be considered.

The most notable feature of this type of finance is that the interest rate is likely to be high. At the same time, there are typically high administration fees applied to the loan. Because of this, it is essential to proceed very carefully and with a full view of the facts. Borrowers have been burned by this type of loan in the past, in instances where transactions have fallen through, or where lenders have turned out to be unscrupulous and untrustworthy.

Benefits of instant bridging loans

1. Rapid access to money
2. Ability to borrow large sums – often up to £250 million depending on applicant status
3. Options for flexible borrowing.

Possible downsides of bridging loans:

1. Failure to understand the unique features of these loans can result in financial risk
2. Bridging finance is secured against your property; meaning it can be sold if you can’t meet the repayment terms
3. A costly option with fees and higher interest

Bridging finance interest rates will vary by lender. However, interest costs of 1.5% a month are not unusual, which can equate to an annual percentage rate of 18%.

Bridging loans may have fixed or variable interest rate features. Fixed interest rates are ideal for customers who want stability, as they offer the same amount of interest for the duration of the term. The rate is pre-agreed, but there may be a premium for this security.

The other choice is to have a variable rate bridging loan which can change with the base rate. However, you can save money if the base rate decreases. Borrowers who are less concerned about security sometimes prefer the variable rate option if they believe that the financial markets will travel in their favour. Knowledge and market insight is required here, along with a thorough understanding of personal risk tolerance. If interest rates appear to be rising, most customers will choose the fixed interest rate to lock it in and avoid further increases in the event of a base rate rise.

Bridging loan periods tend to be for several months and there are usually different options for paying the interest portion.

Monthly repayments

The customer repays the interest every month as a separate payment, rather than adding it to the outstanding balance

Rolled-up bridging finance deals

The compound interest is calculated monthly but added to the outstanding loan balance and paid together when repayment is due.

Retained interest

The monthly interest payment due is covered up to a predefined date so that the full sum is only repaid when monies are due.

As well as interest payments, there will be an arrangement fee for the set-up of the bridging loan, which is usually around 1-2%. A repayment fee for exit paperwork may also apply, along with valuation fees for the cost of the surveyor.

Remember, this type of finance is designed to be short-term. As soon as it extends beyond the agreed interim or bridging period, penalties can rapidly stack up. Typically, bridging finance is available for 1 – 18 months.

Yes, there are two broad types: closed bridging finance and open bridging finance.

With closed bridging finance you will tell the lender how you will repay the loan – with what funds and when. These loans usually complete within a few months and the clear exit plan is required as a lending condition.

Open bridge finance won’t usually need this type of exit plan, and it is typically the loan of choice when funds are needed urgently to complete a property transaction. No detailed plan is needed to explain how the debt will be settled, and the finance tends to be offered for up to a year. Of course, it’s important to note that interest will keep being applied throughout this period.

There are also first charge bridging loans and second charge bridging loans.

If you have a loan against a property which is already mortgaged, you’d take out a second charge loan. An example of this would be if you were planning to finance a property extension to improve the property. The categorisation tells the lenders who will have legal priority for repayment if the loan was unable to be paid off at the term-end.

First charge loans apply if the new loan is the first secured on the property.

Bridging loan requirements will depend on the lender. Often, lenders will require that:

Customers must also take out their property mortgage with them too, providing the bridge finance as an interim measure before the standard mortgage comes into play.

Property is put forward as security against the loan. Some lenders expect applicants to have more than one property in order to be eligible for their bridging finance products, but this will depend on the lender and the size of the loan.

Applicants show proof of income – although, interestingly, as loan interest isn’t repaid monthly, some lenders do not request this.

The applicant shows evidence of their property investment track record if they are planning to develop their purchased property.

The applicant can show a business plan if they are using the bridging loan for commercial purposes.

Development loans are another type of short-term property development loan. They are repaid in stages and calculated on the gross value of the development. Personal loans are another option, as are remortgages when timescales are more flexible and a long-term loan is desirable.

Use a bridge loan calculator
Ask for your lender to provide a tailored bridge finance example or illustration around your particular borrowing needs.
Think carefully about the type of bridging loan that you need – whether open bridge finance or closed bridge finance.
Know whether the loan is a first or second charge type.
Clarify whether the interest rate is fixed or variable.
Review products from several lenders.
Be clear on your security.
Read the small print!

Bridging loans are offered by banks, building societies, specialist lenders and brokers. They aren’t widely advertised and usually require a direct application by the customer to find out the product features and offers.

Once you have made an application, a decision will usually be made within 24 hours. The funds then will take around two weeks to be issued, including time for checks to be carried out, the valuation and the actual transfer.

Hank Zarihs are highly experienced and specialist financial intermediaries operating in the property development market. We work with a tried and tested panel of over 60 trusted lenders and can provide excellent bridging finance with attractive features. Contact us to find out more.

Shiraz Khan

Shiraz Khan linkden

Managing Director

Shiraz Khan is the author of the content. Shiraz is the managing director and founder of Hank Zarihs Associates. With over 16 years’ of experience we are master brokers within the short term financing industry. We specialise in a wide variety of short term loans.

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