Key Points
- Kate Garraway has sold her second home in Islington, North London, for £1.7 million, making a profit of over £1 million since purchase.
- The Georgian terrace was bought with her late husband Derek Draper in 2004 for £550,000.
- Kate faces debts of approximately £800,000 related to Derek’s care after his death from Covid complications in January 2024.
- The property was rented out for £6,750 per month while Kate and Derek lived in a separate five-bedroom Muswell Hill house.
- Kate’s financial struggles include debts from three businesses jointly controlled with Derek that went bust, owing over £1.5 million.
- HMRC is among the largest creditors, with claims exceeding £380,000 across liquidated businesses.
- Kate recently appeared on Celebrity Traitors but was wrongfully accused and banished from the castle.
- Reports suggest Kate may be forced to sell her Muswell Hill home to counter financial woes.
What is the background of Kate Garraway’s property sale?
As reported by the Daily Mail, Kate Garraway, known for her appearance on Celebrity Traitors, has sold her second home, a Georgian terrace in Islington, for £1.7 million. The Land Registry confirmed the sale of the property which Kate and Derek Draper purchased in May 2004 for £550,000. This sale should net Kate a significant profit of at least £1 million after taxes, given there was a mortgage with the Royal Bank of Scotland initiated in 2016, likely close to the original purchase price.
Kate and Derek had been living in a five-bedroom home in Muswell Hill during this time, while the Islington property was rented out for £6,750 per month through Open Rent. The Islington home includes three bedrooms, two bathrooms spread over three floors, a private garden, and a rooftop terrace.
How has Kate Garraway’s financial situation been impacted by Derek Draper’s illness and death?
Inside sources cited by the Daily Mail state that Kate is facing debts of £800,000 related to the care of her late husband, who died in January 2024 after a prolonged battle with Covid complications. It remains unclear whether this debt is personal or held through a company structure.
According to a report by the publication, Kate had to endure intense financial strain as Derek’s medical care and associated expenses ran to hundreds of thousands of pounds over four years. She is now having to grapple with the possibility of selling her primary residence in Muswell Hill as her financial circumstances tighten.
What is the status of Kate and Derek Draper’s business debts?
Kate and Derek jointly controlled several companies that faced insolvency:
- Astra Aspera Ltd (Psychotherapy firm): Forced into creditors voluntary liquidation three years ago. According to the latest liquidator’s report obtained by the Daily Mail, HMRC lodged a preferential claim of £288,054. Other creditors have made claims totalling £196,548, including a £50,000 bank loan. After fees of £32,000 and asset realisation costs, no payout is expected for creditors.
- The directors’ loan account was overdrawn by £139,849, though Kate has paid back part of this debt. The liquidators, Greenfield Recovery, reported recovery actions assisted by solicitors The Wilkes Partnership, with £21,000 repaid during the reporting period.
- Fulfill Media Ltd: Liquidated with debts totalling £922,807. Included in this amount are £88,486 due to HMRC, £90,882 to trade creditors, and £462,808 in third-party loans.
- Countrymouse Media Ltd: Liquidated with debts of £189,121, including £98,944 owed to HMRC and £48,000 on an overdrawn director’s loan account. Both Kate and Derek were personally owed £24,000 each from this business.
The Daily Mail highlights the staggering total of over £1.5 million in debts accumulated from these business failures, compounding Kate’s financial difficulties.
What has Kate Garraway said about her recent appearance on Celebrity Traitors?
Kate Garraway was recently featured as a Faithful on the reality show Celebrity Traitors. As reported by the Daily Mail, she was surprisingly banished from the castle last Thursday after being wrongly suspected of being a Traitor by other players.
On Good Morning Britain, Kate reflected on her experience:
“It’s really intense, those Traitors probably had a very tough time, you’re with a group of incredible people and you’re having to lie, deceive and murder them. I was completely myself all the way through, I thought it’d be easier.”
She added,
“I was absolutely flabbergasted that they were suspicious of me, I thought, I must be the least suspicious person in the world.”
The journalist also mentioned her chosen charity on the show, without disclosing specifics.
Could Kate Garraway lose her Muswell Hill home amid financial struggles?
Reports from last year, as covered by the Daily Mail, revealed that Kate may have to sell her Muswell Hill residence to repay mounting debts related to Derek’s care. An insider said,
“It is so sad for Kate. Not only has she had to watch her beloved husband suffer for almost four years but her financial worries have never been far away from her thoughts. It has cost hundreds of thousands of pounds to look after Derek and do everything she could to get him better but it’s left her struggling.”
The source added,
“The house is about all she has left financially and she is now facing up to the fact it might have to be sold.”
This potential sale would mark another significant step as Kate tries to manage her financial position after years of emotional and monetary hardship.
Kate Garraway’s story is one of resilience amid personal tragedy and rising financial pressure. The recent sale of her Islington home offers some relief, but her financial battles, stemming largely from her late husband Derek Draper’s care and business collapses, continue to weigh heavily.
