Monday 11 July 2011

UK's most expensive house seized by bank after owner defaults on £50m mortgage | Mail Online

UK's most expensive house seized by bank after owner defaults on £50m mortgage | Mail Online

When Updown Court in Windlesham, Surrey, was put on the market for £75 million six years ago, its owner, Leslie Allen-Vercoe, described it as the most expensive house in Britain.

However, with no buyer found for the mansion, Ireland's National Asset Management Agency was preparing to reappoint receivers to take control of the estate.

And today the Irish government was preparing to seize ownership of the massive, 103-room mansion in southeastern England after the Allen-Vercoe, 67, defaulted on a £50 million mortgage.

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