I noticed it was still for sale, I wonder how they brought the new house without selling the apartment?
when people have incomes as high as theres, the bank will loan another mortgage no problem.
it’s like property investors, such as Alfie, he will have multiple mortgages out for the properties he owns.
once Joe sells his london apartment he will pay back the bank the full amount he borrowed.
i think the apartment was originally bought for 2.2 million, if he sells for 2.6 million he will be making 400,000 pounds. Before taking fees/taxes away.
If he was to invest that money into the house, eg make early payments to his mortgage he will be only having a mortgage I would assume of about 500000... for a couple who is worth over a million a mortgage of that is very very little!!
leaving them with a lot of cash in the pot to extend the property & really make it work for their needs.