John Charcol’s debts revealed

Documents filed on Companies House reveal that John Charcol had liabilities of over £3.7m when it entered into voluntary liquidation earlier this year.

The mortgage brokerage was bought from administrators Grant Thornton in February by Towergate Financial.

It officially entered into voluntary liquidation on April 6 at which time it had outstanding liabilities of £3,726,834. The bulk of this debt was owed to Lloyds TSB Bank, which was owed just over £1.2m.

Towergate Financial bought the staff, assets, brand, customers and services of John Charcol when it entered into administration.

It also made arrangements so the brokerage’s customers were protected by professional indemnity insurance and did not suffer any loss.