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If you are a property developer or business owner who is finding it difficult to raise the required funds to pay off an urgent HMRC tax demand then a bridging loan can be a highly practical and uniquely serviceable lifeline. Although there are various sets of circumstances where HM Revenue and Customs (HMRC) may choose to grant you a payment extension – these are not always available and failure to pay your tax bill on time can result in very serious consequences. There are two situations where HMRC will expect and demand an immediate payment from you and these occur

A bridging loan is a type of fast, short-term secured borrowing which allows a buyer to move quickly when they need to. They’re “secured” for the lender – usually against the value of a property: either a property already owned, or the one being purchased. Or sometimes a “charge” is taken out against both properties to achieve the loan-to-value (LTV) ratio you need to minimise the cost of your borrowing. That’s why they’re faster to set up than long-term mortgage finance. It’s much quicker to establish the value of a bricks-and-mortar asset, than to verify employment status, income and affordability,

The UK’s decision to leave the European Union has placed a great deal of uncertainty on Britain’s economic future.   No doubt, this will lead one group of investors to prosperity whilst causing serious grief for another, particularly where the property market is concerned.  To call Brexit a potential dividing line between financial success and failure for the many different types of UK property investors and UK property developers is something of an understatement, particularly where the UK housing sector is concerned. Of course, whether the Brexit vote results in a dramatic win or a substantial loss from your own perspective