We’re at the end of the first month of the year and are as busy as ever with mortgage arrangements and property sales. Our success stories this month, mainly revolving around tax, include an unexpected tax bill paid within 48 hours and a loan deal secured with great benefits.
Refinance of a Malibu Beach Home with $19,500,000 Loan
Loan Secured to Pay Tax Within 2-Week Deadline
Our client received an advanced payment notice from HMRC with a deadline of two weeks to pay.
We arranged a loan secured by a second charge behind their main mortgage, resulting in the client paying the notice within 10 days with no additional penalties or repercussions from HMRC.
48-Hour Turnaround to Pay Unexpected Tax Bill
One of our clients received an unexpected tax bill for £100,000 for personal income, which needed to be paid immediately. We were able to arrange a loan secured by two cars and a piece of artwork that the client owned. The client received funds in 48 hours to pay the bill and we refinanced the short-term loan via a standard mortgage on the main residence.
Loan Deal Achieves Increased Borrowing Capacity
In their first tax year, an up and coming client had a very modest tax return figure. In their most recent tax year, however, this figure had increased 8 times.
We were able to source a mortgage where the bank agreed to use their most recent year in isolation, rather than taking an average of the two years, which would have reduced their borrowing capacity dramatically.