FIBA, the trade body for finance professionals, has appointed Bridging Vat as its latest lender partner.
Bridging Vat provides short term secured loans to fund the VAT due on commercial property purchases.
Loans are available from £30,000 to £10 million for UK based commercial property purchases undertaken by SPVs or SIPPs. The lender said clients increasingly see it as an essential part of the funding mix, releasing capital that would otherwise be tied up with HMRC to be used more productively.
Adam Tyler, executive chairman at FIBA, said, “At FIBA, I have made it a priority to be able to offer a lender panel that provides a very wide choice in the specialist property finance market. Therefore, I am delighted to introduce Bridging Vat, our latest lender partner. This is an exclusive for FIBA members and a great step forward.
“Bridging Vat is very keen to talk to those brokers and intermediaries whom we have already introduced to them, in particular those who are full FIBA members.
“Bridging Vat represents a particularly important niche in the sector, which I know will be of great value to our members.”
Alan Smith (pictured), managing director of Bridging Vat, added: “We are delighted to join FIBA as a lender partner and excited at the prospect of working with the team and its members.”