We secured a £150,000 second charge mortgage to help a client pay an urgent HMRC tax bill while releasing additional funds for home improvements. A desktop valuation and fast underwriting ensured the client met the tax deadline without disturbing their existing mortgage.
Fast Second Charge Mortgage for an HMRC Tax Bill
We recently arranged a £150,000 residential second charge mortgage for a client who required funding to settle an HMRC tax bill and complete planned home improvements.
The client’s priority was meeting a time-sensitive tax liability, making speed of execution essential. At the same time, they wanted to improve their property without remortgaging or affecting their existing first charge mortgage.
Working alongside Admiral Money, we secured a 5-year fixed rate of 7.29%, with no early redemption charges, providing the client with both flexibility and certainty over their repayments.
To accelerate the application, the lender was able to utilise a desktop valuation, removing the need for a full physical survey and significantly reducing the overall timescale. This streamlined approach enabled the funds to be released quickly, allowing the client to settle their HMRC tax bill within the required deadline while also raising capital for home improvements.
This case demonstrates how second charge mortgages can provide a fast and flexible solution for clients needing to raise funds for tax liabilities, debt management, or property improvements, particularly where preserving an existing mortgage is important.
A huge thank you to the team at Admiral Money for their continued support and efficient handling of the case.
