Kim Kardashian took out '$48million mortgage' for Malibu mansion purchase
Kim Kardashian reportedly took out a $48.7million mortgage to buy her new Malibu mansion.
The mum-of-four is said to have bought the impressive property for a staggering $70.4million, but didn't pay in cash.
Purchasing the seaside house last autumn Kim apparently used Britney Spears' under-fire ex-manager to sort the deal.
Kim borrowed the funds from investment bank BNY Mellon, which offers mortgages for ultra-wealthy clients, for the sale that closed on September 12, according to reports.
Supermodel Cindy Crawford and her husband Rande Gerber used to own the mansion before Kim.
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They lived there with kids Kaia and Presley after buying it in 2015 and then selling it in 2018 for $45 million to a retired hedge fund manager.
The sprawling mansion boasts four bedrooms and five-and-a-half bathrooms.
The house is more than 7,000 square feet and is 14 miles away from the home Kardashian's ex-husband Kanye West recently purchased for $57million.
The previous owner listed the house for $99.5 million in March and then lowered it to around $90 million, however it still didn't sell.
This meant Kim was able to snap it up for just over $70 million.
The house is invisible from the street and the property is surrounded by a hedge wall and a towering gate, ensuring complete privacy.
Kim will be living by the beach (kimkardashian/Instagram)
There is plenty of room for Kim and her family (kimkardashian/Instagram)There's a gym inside so Kim can keep up with her regular workouts.
There's also plenty of room for the family to spend time together, inside the dining room or soaking up the sun on the patio which looks out to the ocean.
According to the mortgage documents obtained by The Sun, Kardashian appears to still be using Britney Spears' former business manager, Lou Taylor.
The corporation used to complete the purchase of the home, Look At God Re LLC, is registered at the same address as Taylor's management firm, Tri Star Sports and Entertainment Group.
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Kim will be living close to ex-husband Kanye (Getty Images)Tri Star came under fire during Spears' conservatorship legal battle.
However, the company has denied the singer's claims that it mishandled her $60 million fortune during her father Jamie Spears' 13-year conservatorship.
The Kardashian family has used Taylor and her firm in the past to handle deals.
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