Case Study: Bridging Loan to Settle a Tax Bill - May 14, 2018

Area: Birmingham

Loan amount: £50k

Bridging Loan to Settle a Tax Bill

Our client approached us after HMRC had contacted him demanding a tax payment of £50k. The client did not have these funds easily available, and given that he only had 7 days to pay the debt, was stuck for a solution.

He contacted the Specialist Lending Department at One 77 who were quick to act to find a solution. We acted quickly and put a second charge bridging loan against his main residence to ensure the money was available in time – this allowed us to acquire the funds quickly so that the tax bill could be settled in full. This was then repaid by remortgaging his property with a high street lender.

Do you require bridging finance to help settle a tax bill? For our full range of specialist finance options and products call our Specialist Lending team on 01249 474956.

Find out more about how bridging finance can be used for tax purposes.