The client received a tax bill at short notice after the sale of an investment property sale fell through leaving them just two weeks to agree terms and pay the outstanding bill.
The property sale would have comfortably cleared the tax liability in good time but instead the owner was left with a looming deadline and no way of raising the funds in such a short space of time.
“While this was tight we were confident we could step in and help,” said Dan Yendall-Collings, senior underwriter at HFBS.
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“Having met with the client at the security address and being able to see the sales particulars, we were confident that we would be lending well below 50% LTV, which meant we could lend without the need for a full mortgage valuation.
“However, the first mortgagee on the security address had a flexible account with an all monies charge.
“This meant a written confirmation of their maximum liability under that charge was required taking two days to produce.
“Nevertheless, we still completed within our client’s timeframe and the matter completed successfully in just eight days.”
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