Chancellor Nadhim Zahawi's family property empire funded by mysterious £30m loan

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Nadhim Zahawi is a candidate for number 10 despite having only been chancellor for a few days - it has emerged that his family's $100million property empire had taken £30m from unknown creditors

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New Chancellor Nadhim Zahawi's £100m family property empire is being funded by a mysterious £30m loan, the Mirror can reveal.

One of their companies Zahawi & Zahawi Ltd, founded by Mr Zahawi and his wife Lana, has £58m worth of business property in the UK and its accounts show it is funded by £55m loans.

But only £23m of those loans are backed by banks; the remaining £32m comes from "other creditors".

It does not appear that the money is borrowed directly from the couple themselves.

Under 'related party transactions' it is revealed that the company owes £1.5m to two sister companies owned by Ms Zahawi.

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Picture:

Getty Images)

Zahawi in his youth as a Conservative candidate for Erith and Thamesmead (

Picture:

Universal pictorial press)

The source of the remaining £30 million in loans is not disclosed.

Chartered accountant Professor Richard Murphy, of Sheffield University Management School, said the funding deal was "exceptionally unusual" and that the Zahawis must "have very wealthy friends".

The Mirror has revealed that the couple's companies have spent over £80million on commercial properties over the past six years.

Mr. Zahawi founded and ran the polling company YouGov and continued to advise the company while he was an MP.

He founded Zahawi & Zahawi with Lana in June 2010, a few weeks after becoming an MP.

He left his post as a director in 2018 when he became a government minister and...