SHORT TERM BRIDGE FROM HFBS EASES STRESS

SHORT TERM BRIDGE FROM HFBS EASES STRESS

Short term loan from HFBS eases a stressful situation and agrees a short term bridging loan of fifty six thousand pounds to prevent an investor losing a significant BTL portfolio.

SHORT TERM BRIDGE FROM HFBS EASES STRESS

With a failed business and subsequent mortgage arrears, leading to the threat of repossession, quick action was needed to secure a London BTL portfolio and clear debts to enable a clear and structured plan of action for financial security.

Dan Yendall-Collings, senior underwriter at HFBS says: “We’re always cautious when a client is in severe difficulty. Unfortunately for our client his business had failed resulting in sole reliance on the rental income from his BTL portfolio. Regrettably it was a struggle and led to mortgage, ground rent and service charge arrears. We met to discuss his plan of action and agreed to clear his debts whilst he freed up a significant amount of cash from the sale of two properties from his portfolio.”

From application to pay-out, even waiting for confirmation of mortgage arrears and ground rent arrears, HFBS completed in just five working days. Selling the properties will free up significant cash reserves allowing the loan to be paid off promptly enabling a comfortable retirement for the client.

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending. Simpler, quicker, cheaper.

Bank of England Rate Increase

‘Surprise, Surprise ( not the game show hosted by the late, great Cilla Black) but the decision by the Bank of England to increase base rates by one quarter of one percent. To be fair to the BOE their job is to ensure no unnerving sudden moves to upset those sensitive souls in the city markets. What does it actually mean though?

I am a great believer that such moves are generally hyped up for the headlines and no doubt this time will be no different. ‘ 000’s to lose there homes’ , ‘mortgage MISERY!’ , ‘debt mountain many on a precipice’ , ‘Mickey Mouse faces eviction’ , we all know the kind of thing. The reality is a little more mundane. YES! a very small number of borrowers are genuinely that tight and for others there may well be a small tightening of the belts (and a modest drop in consumer spending) however it has been flagged and some people have mitigated the risk; others, unfortunately may suffer but that is always the case.

On the longer term front this simply has to happen and the sooner it is begun the slower, steadier the pace can be. After all we are reaching levels of unsustainable personal debt and prompting people that the current historically low interest rates are a temporary not a permanent phenomena is not a bad thing. Let the air out of the balloon gently and more of us will be around to enjoy future, sustainable growth.

Having lived through two severe ‘Busts’ with the grey hair to prove it, a little ‘prudence’ (remember her) seems just the ticket!

Now all we have to contend with is every other ill judged intervention in the property market, oh joy!

Development goes ahead thanks to HFBS

DEVELOPMENT RECEIVES THE GO AHEAD FROM HFBS

Development goes ahead thanks to HFBS who help property developer achieve his vision for an executive residential new build and refurbishment project.

Development goes ahead thanks to HFBS

Unable to secure funds via traditional routes, such as high street mortgage providers, HFBS were approached to fund the project through to its completion with a bridging loan of one hundred and ninety five thousand pounds.

HFBS were satisfied the developer had a good track record successfully completing development projects and agreed terms over a 12 month period using a BTL property in central London as security.

David Broadbent, Director at HFBS says: “Having met with the client it was clear we would be able to agree a deal. We were happy to support the development knowing there would be a healthy profit in the sale, at which time we would receive full payment.”

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending. Simpler, quicker, cheaper.

HFBS approve cash injection

HFBS APPROVE CASH INJECTION

Holme Finance Bridging Solutions approve cash injection of forty thousand pounds to enable wholesale business honour a major supplier contract to a number of household retail names.

HFBS approve cash injection
HFBS approve cash injection

Due to the short term nature of their loan requirement the client was unable to seek finance via traditional routes their Broker Loans Warehouse introduced HFBS who were able to use the client’s main residence as security by way of a second charge ensuring the business didn’t loose additional revenue.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “The short term bridge of two to four months was desperately needed to avoid the business losing more revenue. However by the clients own admission their credit profile wasn’t ideal and they were using an inhabitable property as security – no conventional lender would agree terms on that basis. Personal loans would put a strain on their cashflow which was already an issue as the business is a main source of their own income. After meeting the client and agreeing security against their home we were happy to provide a short term solution to their cashflow glitch.”

 Matt Tristram Co-Founder and Director of Loans Warehouse says: “We’ve offered bridging finance for many years now and in all that time no other lender embraces the true ideal of bridging, speed, simplicity and flexibility like HFBS.”

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending. Simpler, quicker, cheaper.

Over a year on from the Brexit referendum we are still here and busier than ever

Over a year on from the Brexit referendum we are still here and busier than ever.

Over a year on from the Brexit referendum we are still here and busier than everMarket comment from Dan Yendall-Collings Senior underwriter at Holme Bridging Finance Solutions talks about after a year on from the Brexit referendum “we are still here and busier than ever.”

“With all the talk of uncertainty and changes in the market, namely the increase in taxation on rental income and stamp duty on investment properties, it hasn’t rocked the boat or deterred seasoned or ‘have a go’ property developers

“Even with that seemingly calamitous news we had a record first quarter of the year with an increase in lending compared with previous years.

“So far we have found that professional property investors are still keen to continue. They know if they can get a good deal and do the job well that there is still a healthy return to be made if you know how to get it.

“It is hard to make any sort of predictions on business levels, certainly Brexit and the general election briefly halted decisions, but our usual peak activity times tend be spring and late autumn, based on our spring results we are all set to continue looking forward to what the rest of the year will bring – basically we maintain a positive outlook.

“Yes nationally indicators saw a softening in the central London housing market but this hasn’t had an effect on our typical client’s appetite to plough on with developments or their ability to generate a healthy return. We’ll keep a watchful eye on that situation but currently it isn’t at a point that will have us shying away from lending in that area.

“All in all when you actually just accept what you have to work with you realise that the changes in regulation, and in the market generally, haven’t had a significant impact on the niche market that we specialise and cater for.”

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending. Simpler, quicker, cheaper.

Relocation Happens Quickly thanks to HFBS

Relocation Happens Quickly thanks to HFBS

Self-employed business owner required funds urgently to secure a new commercial property ensuring business trading continued with limited disruption.

Relocation Happens Quickly thanks to HFBSA standard commercial mortgage agreement wasn’t happening quick enough to secure a business relocation but Holme Finance Bridging Solutions stepped in with a £150,000 loan to make it happen.

Ian Broadbent, Director at HFBS says: “It was an incredibly stressful time for our customer. She was on the brink of loosing the commercial property due to a commercial mortgage lender not acting quick enough, she was also hopefully of selling her home to aid the move but unfortunately the timing just wasn’t right.

“We were approached via her broker who was simply looking for funding fast. We were able to meet, instruct a valuation, get the relevant documentation together, and transfer funds all within one week.”

The client had adverse credit, which restricted the options available to her, but HFBS were satisfied by their client’s efforts to sell her home address with the intention of clearing her debt and downsizing to a mortgage free property.

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending. Simpler, quicker, cheaper.

DAMAGED INVESTMENT REQUIRED THOUSANDS TO PUT RIGHT

DAMAGED INVESTMENT REQUIRED THOUSANDS TO PUT RIGHT

 

DAMAGED INVESTMENT REQUIRED THOUSANDS TO PUT RIGHT
DAMAGED INVESTMENT REQUIRED THOUSANDS TO PUT RIGHT

A problem investment property above a commercial property in Manchester was so badly damaged by tenants that the owner required one hundred thousand pounds to ensure her investment could be re-let or sold successfully.

The extremely large semi-commercial property with domestic accommodation above hit problems following an extended period of non-payment, which forced the owner to apply to the courts for a possession order and eventual eviction.

With a legal bill of many thousands and the whole building requiring a comprehensive scheme of improvement she set about raising the finance only to discover funding options were limited due to the property being semi-commercial. The added complication was the vacant accommodation was deemed uninhabitable making it impossible to obtain a standard long-term finance solution.

Ian Broadbent, Director at HFBS says: “We were approached to provide a 100k facility which would cover all legal costs incurred do date, as well as the proposed improvement scheme, with enough of a buffer to ensure that the project could comfortably be completed.

“Having met with the client it was clear that she had simply had bad luck with the previous tenants which had spiralled into a very costly situation. Valued in its current condition at £250,00 the valuation when finished came back at £400,000 providing us with sufficient confidence to approve the deal. Works to the property are currently progressing!”

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending. Simpler, quicker, cheaper.

Quick bridging loans from HFBS

Quick bridging loan wins from HFBS

Quick bridging loan wins from Holme Finance Bridging Solutions keep your clients happy.

Here are some of our quick wins:

260k agreed for holiday home purchase #quickfunds #nosolicitor #simple no hassle #finance.

62k agreed for purchase of investment property #BTL #finance #quickfunds make it happen.

93k advance on 2nd charge to complete schedule of development works. No messing #propertydeveloper #bridgingloan

100k loan agreed for completion of two investment properties. Straight forward #building #finance #quickfunds

Call us for a quick win 01724 865577.

The election merry-go-round

The election merry-go-round…

As the election merry-go-round continues to take over the media our director Ian Broadbent shares his views concerning a recent article by ARWEL GRIFFITH, MANAGING DIRECTOR AT ROBERT STERLING SURVEYORS in Bridging and Commercial News:

” I can only reiterate some of the points he raised. Regardless of political beliefs any party with a greater majority will have a firm handle on decision making.

“Assuming the Conservatives achieve a significant majority, a properly elected Prime Minister by the public with a significant mandate can only lead to stability.

“Our sector has been through massive changes concerning regulation and taxation. With optimism I hope this is the last our industry will see of upheavel for a long time, at least until the industry is settled.

“The short-term uncertainty concerning the election will soon be replaced by a fixed term with fixed plans, and as we know this will certainly bode particularly well for the property market which especially likes stability rather uncertainty.”

“No matter what HFBS will continue to do what we do best, provide a genuine service and lightening quick bridging loans.”

Celebrating 22 years in the bridging sector…what does that tell you?

HFBS Director, Ian Broadbent, celebrates 22 years in the business, but what is his secret to success…

Celebrating 22 years in the bridging sector
Celebrating 22 years in the bridging sector

…Read about Ian’s 22 years here: “Well I’m celebrating 22 years in the bridging sector. Time has passed, three children, one divorce, innumerable pets having come and gone, and several house moves, but all along the fundamentals of bridging loans remain a constant. Experienced underwriting, fair terms, a good team and quality introducers make for success.

22 years has got to tell you something, truth is I thoroughly enjoy it. I love the variety, no two applications are ever the same, with an infinite number of scenarios and potential outcomes unique to every application it really keeps you on your toes.

I started in this business as a secured loan broker, I have been involved in second charge lending, non status first mortgage broking and short term bridging lending, encompassing most forms of secured property finance. I took and passed both CERGI and CEMAP in 2004 prior to the mandatory requirement stipulated by the FCA.

Holme Finance Bridging Solutions entered into short term bridging loan lending alongside the non status mortgage broking around 2000 (albeit on a small scale funding deals with our own monies and gradually attracted additional funding from private sources). This makes us one of the very first to be involved in bridging finance.

Following the financial crash in 2007, non status mortgage broking simply ceased and we recognised an opportunity to increase lending to fill the gap left by the banks.

I embraced change, the business embraced change and since that point we have continued to shun bank or other corporate funding to plough our own furrow with significant increases in our private funding lines and a growing book value.

I always say: “Do not look at the glass as half full or half empty just be aware it is refillable.” There are bumps in any road but we’ve negotiated around them and continued to grow and developed an unrivalled product.

The biggest thing I’ve learnt is that flexibility really is the key. As a privately funded lender, we can make immediate decisions and in most cases complete without the aid of solicitors. We are also happy to consider the ‘quirkier’ deals or those outside our terms. Think of our advances as a secured loan only shorter!

I’ve made a million mistakes but building our business isn’t one of them neither is our model which offers unrivalled flexibility. So, in summary, I am only just getting started and looking forward more than ever to building long lasting business relationships with some fantastic introducers; doing what we do best, providing a genuine service and lightening quick bridging loans.

Here is to the next 22!”