Overdue Tax bill

OVERDUE TAX BILL FINANCED WITH A SECURED LOAN

A broker approached us with a client who needed funds to clear an existing second charge loan and pay a tax bill. The case was declined by a high street lender due to the high LTV (95%), the client’s overdue tax bill from previous years and his unprofitable business.

The Solution

We managed to place the case with a lender who was able to offer the full loan amount after taking into consideration the fact that the client had gone into a full-time employment. The loan would improve the applicant’s financial situation by clearing his tax bill and consolidating his existing debt.