Case Studies

Bridging Loan with a Difference
Portman was approached with a client in the middle of an IVA but requiring some short term funding pending the sale of the matrimonial house. After discussions with the IVA Supervisor and the appropriate consents obtained, Portman was able to assist with a loan secured by way of a second charge on the property and a guarantee from a family member. The loan was made in monthly tranches to ease the interest burden.                                                        

Short Term Equity Release
Mr X already had his property on the market, but required release of some of the equity immediately. Portman considered the situation and lent £30,000 supported by a third legal charge on the property. Portman was repaid within 3 months upon the sale of the property.

Development Funding
A developer needed to raise funds to complete a development. Unfortunately, he was unable to gear up against the development as the existing lender would not permit a subsequent charge. Portman therefore took a second charge on an investment property taking the LTV up to 94%. The loan was repaid from the sale of the development property.

Tax Loan                                                                                                                Due to late submission of tax returns the borrower had an outstanding estimated personal tax bill of £65,000. HMRC had already registered a CCJ for this amount against the borrower for the outstanding bill. To avoid any further action the borrower wanted to pay the tax bill immediately and then submit the outstanding tax returns, but could not raise finance in the traditional way due to the CCJ, even though he was of high net worth. Portman lent £65,000 with part repayment coming from the tax rebate and the balance from monthly capital reductions.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.


With over 25 years banking experience and 30 years of practical property development and investment experience, Portman Finance understands each situation is unique and will tailor a solution to the need.