We completed a £428,980 second charge mortgage in time for the 31st January tax deadline, giving our client fast access to funds without disturbing their existing fixed-rate mortgage.
With the 31st January tax bill deadline approaching, our client needed to raise a substantial amount of funding quickly. Paying the tax bill on time was critical to avoid penalties and added financial pressure.
The client’s existing mortgage sat within a fixed rate with high early repayment charges, which ruled out a remortgage. Their first charge lender also declined a further advance, leaving no viable high street options.
We arranged a second charge mortgage up to 85% loan-to-value, raising £428,980 net to clear the outstanding tax bill. This solution allowed the client to access fast funding while keeping their existing mortgage in place and avoiding costly ERCs.
Speed mattered. Working closely with Admiral, we progressed the case quickly and efficiently. Admiral’s streamlined process and understanding of the client’s circumstances enabled us to complete before the 31st January deadline.
This case shows how specialist finance and second charge mortgages can solve urgent problems such as tax bills, debt consolidation, and time-sensitive funding needs, especially when traditional lenders cannot help.
A big thank you to Steffan Penry-Williams and Mike Walters at Admiral for their support in delivering a fast and successful completion.
