chris parr

Fiduciam provides loan to settle HMRC debt



456_2020-05-07-03-05-14pm.gif
Bridging and marketplace lender Fiduciam has funded a £973,000 loan to refinance a portfolio of seven properties — held across nine titles — after the borrower was hit with an unexpected tax bill.

The client — an experienced operator of pubs and restaurants — was liable for an HMRC demand in excess of £350,000 after purchasing various properties under the wrong legal entity.

The 62% LTV loan was offered on a retained-interest basis for the first three months, and serviced thereafter, at a rate of 0.8% pcm.

Chris Parr, business development manager at Fiduciam (pictured above), said: “Our experience of handling complex deals enabled us to take on the client’s case when other lenders were unable to consider it.

“Although the nature of his portfolio meant that a complicated legal process was involved, we worked with the broker to keep the deal moving and provide the finance he needed.

Sign up to our newsletter to receive more news like this story

I accept that by joining the B&C mailing list, I will receive relevant news and promotional material via B&C on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.

Leave a comment


Blonde teen Lidsey posing for you