chris parr

Fiduciam provides loan to settle HMRC debt

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.

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