Loan amount: £50k
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.