An unexpected HMRC bill

Time-critical finance:

Term: 10 years
Amount: £150,000
Feature: buy-to-let property

When the FD of a long-established family-owned business retired, a systemic error in tax calculation was discovered. The company needed to raise £150k immediately to pay off the unexpected HMRC demand. As a lifestyle business, the company’s balance sheet couldn’t support that level of borrowing.

Outcome

Accredo agreed, within 3 hours of proposal, to lend the full £150,000 over 10 years with a charge over the shareholder’s buy-to-let portfolio as security.

Related frequently asked questions

How long does it take to release funds to the customer?

Once all conditions have been satisfied and we have completed our final checks, we will release the funds and they will be in the customer's bank account within 24 hours.

What is the process and how long does it take?

Firstly we will need to receive a request for finance via a broker. 

If we are able to issue an acceptance, we will send our Property and Borrower questionnaire for the client to complete.  On receipt of this completed questionnaire we will contact the client to collect the legal fees and, if applicable, valuation fees. 

Once we have received the fees, we will instruct our solicitors, book the valuation, contact other lender/s and raise loan paperwork for signature.

Whilst we make every effort to complete the process as quickly as possible and in line with the client's requirements, we are unable to give a specific timescale due to some aspects of the facility being reliant on external parties but once all conditions have been satisfied and we have completed our final checks, the pay-out process can take up to 24 hours.

Full details can be found on our 'Our Process' page.

Our Products

Short term business loans

Our short term facilities have a transparent payment profile of anything from 3 - 18 months allowing your clients to free up cash flow to run their business.

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Long term business loans

Our longer term facilities are available for periods of 5 to 10 years.

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Secured equipment leasing

Purchasing equipment outright often requires a significant investment. Accredo provides secured equipment leasing options for most asset types including second hand equipment as well as leases for intangible assets such as software.

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Contact us

We're here to help so if you would like further information about the products and services we offer, our experienced team are ready and waiting to assist.

Tel:  01444 255915

Fax: 01444 255910

Email: customerservices@accredoltd.co.uk

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Our products

We provide secured business loans from £25,000 to £1,000,000 specialising in solutions for new-starts, difficult credits and established companies. We lend against residential, commercial, mixed-use and buy-to-let property. 

We aim to give decisions in under three working hours. Our repayment terms are from 3 months to 10 years. And we offer fixed repayments or flexible terms such as seasonal payments, payment holidays and interest-only.

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Frequently asked questions