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Residential Second Charge Bridging Loan
"Nothing is certain but taxes and ..."
Location - Kensington, London
Property Value - £3,000,000
Loan Amount - £350,000
Loan Type - Residential
LTGDV - 52%

The borrower, a UK resident businessman from the Middle East, had a liability to HMRC for a significant tax charge and had borrowed against his home, an attractive apartment on a garden square near to Hyde Park, in order meet part of the liability.

The property was on the market for sale but the facility had expired. We refinanced with a second charge, residential bridging loan, to be repaid from the proceeds of the sale of the apartment.

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