On acceptance of our loan offer, the borrower must transfer the Loan Processing Fee before Bridging Vat will start the due diligence process.

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The aims of the Bridging Vat due diligence process are:

1. being satisfied that VAT is correctly charged on the purchase and there are no reasons why HMRC may disallow the recovery of VAT.

2. optimising the borrower's VAT registration to ensure tax is recovered as quickly as possible following completion and paid directly from HMRC to Bridging Vat.

3. ensuring Bridging Vat has complied with Anti Money Laundering regulations.

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As part of this process we:

• send a simple information request for the borrower, or their solicitor, to complete.

• arrange to meet the borrower and visit the property.

 

​Due diligence is normally completed within 5 working days  but this can be completed in 3 working days for urgent loan applications.