HomeUK NewsKate Garraway Left Devastated as She’s Forced to Sell £1.7M London Home...
Kate Garraway Left Devastated as She’s Forced to Sell £1.7M London Home to Pay Off £800K Debt
Kate Garraway could be forced to sell a second home worth £1.7million after running up debts of up to £800,000 caring for her late husband Derek Draper. Above: Kate and Derek with her parents after she was made an MBE at Windsor Castle in June last year
Kate Garraway has officially sold her second property – a three-bedroom Georgian townhouse in Islington, North London, worth an estimated £1.7 million – in a difficult but necessary move to tackle the spiralling debts she incurred while caring for her late husband, Derek Draper.
The Good Morning Britain host and former political lobbyist Derek paid £550,000 in 2004 for the three bed Georgian town house in Islington, north London
The Good Morning Britain presenter and her husband originally bought the property in 2004 for £550,000 before purchasing their main family home in Muswell Hill for £1.425 million in 2016. Despite its value tripling over the years, the Islington house had a financial charge from the Royal Bank of Scotland, making it unclear how much equity Kate was able to reclaim from the sale.
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Derek’s death was confirmed on January 3 after the former political lobbyist suffered a fatal cardiac arrest. He was 56-years old
Kate, 56, revealed this heart-wrenching decision in her ITV documentary Kate Garraway: Derek’s Story, detailing the crushing £800,000 debt she built up due to Derek’s round-the-clock care costs, which included a staggering £16,000 per month and experimental treatments abroad.
Kate transformed the family home in Muswell Hill to suit Derek’s needs as he required round-the-clock care while he continued his recovery
Speaking candidly, Kate admitted that her ITV salary couldn’t keep up with the financial burden: “I can’t earn enough to cover my debt because I’m also trying to manage Derek’s care.”
Kate had previously faced selling their main Muswell Hill residence, adapted with a lift and wet room for Derek’s needs. However, sources now confirm it was the Islington townhouse that was ultimately sold in a bid to stabilise her financial situation.
The presenter is thought to have spent thousands of pounds on professional help for her late husband – who was confined to a wheelchair
Amid this emotional upheaval, Kate’s new partner reportedly stepped up with heartfelt support. According to a close family source, he told her and the children: “We may have lost Derek, but we haven’t lost each other. You still have a future, and I’m here with you every step of the way.”
She converted the ground floor lounge into a new bedroom, which was fitted with a hospital bed for Derek (pictured). The virus had damaged the former lobbyist’s muscles and internal organs
The words are said to have left both Kate and her children deeply moved during an incredibly vulnerable time.
Kate has opened up about the crippling debt she accrued caring for husband Derek Draper, admitting she’s at ‘crunch point’
Kate also opened up about her feelings of guilt and shame over the debt. On Good Morning Britain, she said: “I’m someone who is very well-paid and I feel ashamed that I couldn’t make it work.”
The financial strain followed the collapse of Derek’s psychotherapy company Astra Aspera Ltd in 2022, which owed nearly £914,000, including £716,822 to HMRC. Two other businesses the couple previously owned had also gone into liquidation years earlier with combined debts over £1 million.
Kate continues to fight for her family’s stability while honouring Derek’s legacy. Selling the Islington property may have marked a painful chapter, but it also symbolises her resilience and determination to protect her children’s future.
