Proplend’s First VAT Bridging Loan

HCR’s Thames Valley real estate finance team acted for Proplend.

The transaction concerned Proplend’s first VAT bridging loan, a growth area for the leading technology platform for investor funded commercial real estate loans.

The platform specialises in this type of finance, setting it apart from many other lenders; the loan, which is taken out in relation to commercial property which attracts VAT, means that investors can manage the VAT charge of 20% of the purchase price without affecting their cashflow.

Proplend offers the loan and also works to recover the VAT paid from HMRC to redeem the loan post completion.

Clare Day (Picture), head of finance and financial services at HCR, led on the matter.

Involved fees earner: Clare Day – Harrison Clark Rickerbys;

Law Firms: Harrison Clark Rickerbys;

Clients: Proplend;

Giulia Di Palma

Author: Giulia Di Palma