Kate Garraway offloads a second property amid substantial financial obligations triggered by Derek Draper's demise.
Kate Garraway, the popular presenter on Good Morning Britain, has sold her second home to manage a significant increase in financial burden caused by the high cost of her late husband Derek Draper's care.
Before purchasing the family home, Kate had bought a flat in North London years ago, long before she met Derek. The flat was initially intended as a long-term investment. However, it was later kept as a financial safety net.
Unfortunately, Derek passed away at the age of 56 after battling the effects of long Covid, which he contracted in March 2020. The care of Derek over a period of four years reportedly cost the family hundreds of thousands of pounds, with the monthly cost exceeding Kate's ITV salary, adding to her financial strain.
The debts accumulated after Derek's death amount to £800,000. The monthly cost of his care was around £16,000, a substantial figure that led Kate to sell the second home to manage the massive debt.
Despite the sale of the North London property fetching £1.5 million, the remaining amount will not significantly reduce Kate's overall debt. A source close to Kate stated that she takes paying off her debts very seriously.
Kate had not purchased the North London property together with Derek. The sale of the property was a necessary step taken due to growing financial pressures.
In these challenging times, Kate continues to present on Good Morning Britain, showing resilience and strength in the face of adversity.
- Kate Garraway, who is a popular presenter on Good Morning Britain, has taken a significant step to manage her financial burden caused by the high cost of her late husband Derek Draper's care.
- The world of science and medical-conditions, particularly chronic diseases and respiratory conditions, have posed a financial challenge for Kate and her family in the past few years.
- Kate had bought a flat in North London years ago, which initially served as a long-term investment but later became a financial safety net.
- The care of Derek, who passed away at the age of 56 after battling the effects of long Covid, reportedly cost the family hundreds of thousands of pounds, adding to Kate's personal-finance strain.
- The sale of the North London property, fetching £1.5 million, was a necessary step taken by Kate due to growing financial pressures, even though it will not significantly reduce her overall debt.
- Kate continues to demonstrate resilience and strength in the face of adversity, hosting Good Morning Britain, while also prioritizing the repayment of her debts.
