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!”

HFBS have a flexible approach.

HFBS Have a Flexible Approach to Bridging

When writing about my 22 years in the industry I attributed our business success to flexibility. As a privately funded lender we are able to make immediate decisions and in most cases complete without the aid of solicitors.

We offer small advances, consider the less traditional and quirkier deals, and turnaround funds incredibly quickly, 72 hours in some cases.

From five thousand to hundreds of thousand of pounds, every single bridging loan has provided a solution. We’ve enabled contracts to complete, helped developers create profit, refurbished down-trodden properties, helped to redeem other bridging loans, and secured auction properties.

From retired individuals venturing into property development, to seasoned property developers, there are an infinite number of scenarios, which is why we approach each case on an individual basis taking the time to understand the client’s needs and situation.

We are in the business of supporting our brokers and individual clients with a genuine short term need.

For a good working relationship, quick turnaround of funds, and simplicity call Ian, Dan or David for an instant decision on 01724 865577 or email sales@hfbridging.co.uk

HFBS BRIDGING LOAN FUNDS PROFITABLE SALE

HFBS BRIDGING LOAN FUNDS PROFITABLE SALE

HFBS bridging loan provide a profitable solution to a badly damaged BTL property after a disillusioned BTL investor decides to sell their investment.

Under considerable financial strain due to rental arrears and a huge repair bill the investor was forced to market the uninhabitable BTL property for sale.

Unfortunately a quick sale wasn’t forthcoming and after been advised the property should be renovated to increase its appeal, and therefore become mortgagable, HFBS were approached to fund the one hundred thousand pounds required to complete the work for a profitable sale.

Ian Broadbent, Director at HFBS says: “Our client couldn’t get a mortgage due to the condition of the property. Unsecured funding was not an option due to the amount required and the client’s credit status. The client had got to the point where they just wanted rid of the property and had even considered putting it to auction, but after speaking to an estate agent and consulting with local builders and decorators it become clear a sale would be achieved and net a healthy profit.

We are pleased to have helped provide a workable solution, the cost of borrowing the £100k has been considered by our client as insignificant in comparison to the potential of the profit available.”

Estimated to take six weeks, the renovation works will increase the property’s appeal opening up the market beyond cash purchasers and developers in time to hit a buoyant spring property market.

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.

Holiday home saved by HFBS

HOLIDAY HOME DEPOSIT SAVED

Holme Finance Bridging Solutions approve a two hundred and sixty thousand pound bridging loan to allow a professional client with a side line in property development to complete the purchase of a holiday home in Spain.

The client had originally hoped the proceeds required would have been released from the sale of one (of two) residential developments however timescales on these had overrun and both were short of completion.

Ian Broadbent, Director at HFBS says: “Our client owned a title which included a commercial premises occupied by himself  and two residential properties which were in the latter stages of completion  with a combined value as stood of £770,000. The client had the funds to complete the development, and with no mortgage outstanding and a clean credit status, we were happy to provide the loan to avoid the loss of the deposit placed on the holiday home.”

Provided with a facility at 0.95% month the loan will be repaid from the proceeds from the sale of one of the two residential units and strong business cash flow.

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.

Are bridging customers likely to be affected by the PRA’s new BTL affordability checks, which could prevent borrowers exiting bridging loans due to the increased rental yield hurdles?

PRA’s new BTL affordability checks…

Are bridging customers likely to be affected by the PRA’s new BTL affordability checks, which could prevent borrowers exiting bridging loans due to the increased rental yield hurdles?

In order to consider the impact of the PRA’a intervention in the Buy to Let market we firstly have to identify the two distinctive borrower ‘types’ who may utilise bridging finance in respect of these purchases.

There are those who wish to ‘flip’ a property for a quick return and in these circumstances the properties are often sold to private purchasers wishing to occupy them and there is therefore no impact, however many borrowers utilise such finance as a ‘bridge’ to a longer term mortgage solution, how will they fair?

The answer is mixed. The more professional investor often adds significant value to a property before refinancing longer term, thus reducing the required LTV and in many cases the rental yield provides greater coverage meeting the higher requirements. In addition they often have significant ‘stand alone’ income which is likely to be considered by the specialist Buy to Let funder. A combination of these things may assist in mitigating the impact although it is impossible to get away from the fact that the days of highly leveraging a portfolio to expand rapidly is on the way out!

The less experienced (but no less entrepreneurial individual) may have neither the stand alone income nor the ability to add such value, this will no doubt be the harder affected group.

Once again ill thought out government policy has a disproportionate effect on those simply trying to add a little security to their future.

As bridging lenders we all want to retain profitable business models and good client relationships. No one wishes to see a spike in litigation and possessions therefore the application of the new rules have to be carefully considered when advancing that bridging loan.

As always change brings fresh considerations and those that can apply a little common sense will prevail. There are new challenges and likely some moderate effect on volume but as always the best lenders and the savviest borrowers will thrive.

RETIREMENT INCOME SAVED BY HFBS

RETIREMENT INCOME SAVED BY HFBS

Retirement income saved by HFBS  who turn around a £100 thousand pound loan within four working days.

The 80 year old investor found himself in a financial jam after the sale of his Buy to Let fell through at the last minute whilst committed to completing on the purchase of a commercial property run as a chip shop.

With only days left to complete HFBS were called on to provide the £100,000 shortfall and a lifeline desperately needed to ensure the deal went ahead securing the clients aims of generating additional retirement income.

Ian Broadbent, Director at HFBS says: “Our client had very limited options due to his grand age of 80 years. We required a valuation on this deal but we were able to arrange a quick drive-by valuation to satisfy our requirements. Also independent legal advice was necessary, but thankfully, all due diligence was satisfactory and we were able to pay-out within 4 working days.”

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 and one of lowest advances, starting from just £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.

SALE OF BURDEN PROPERTY GOES AHEAD THANKS TO HFBS

SALE OF BURDEN PROPERTY GOES AHEAD THANKS TO HFBS

Holme Bridging Finance pay out in just four days to help their client carry out light refurbishment work on a vacant Buy to Let property in a bid to gain the best possible sale price.

SALE BURDEN PROPERTY GOES AHEAD
SALE OF BURDEN PROPERTY GOES AHEAD THANKS TO HFBS QUICK SERVICE.

After relocating to central London the client was struggling to maintain a BTL investment. Not in the best condition and vacant it was imperative the BTL was sold as quickly as possible at market value.

Unfortunately the client’s credit scoring wasn’t at the level required, and even her own bank couldn’t offer an unsecured option.

She approached many lenders and brokers to discuss the possibility of secured finance, but with minimum advances of around £25,000-50,000 she didn’t want to be forced to borrow more than required.

Ian Broadbent, Director at HFBS says: “With a small team of local handymen lined up to turn the property around we were approached by the client’s broker to help progress the work.

After meeting the client we felt confident that there was significant value in the security address and agreed, without the need for a valuation, to a small loan of £10,000 to cover the refurbishment work, some initial legal costs relating to the sale, and a small buffer.”

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 and one of lowest advances, starting from just £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 providing bridging support during 2017

HFBS Providing Bridging Support During 2017

Never ones to jump in too quickly we didn’t want to make comment on the New Year until the early signs were there (let’s face it, with the barmy events of last year anything was/is possible) but it now appears evident 2017 is odds on to be a good one.

Here at HFBS we are only too aware that pulling off that bet is down to the fantastic support we receive from you and we are certainly taking nothing for granted so rest assured we will continue to support you as best we can. Thank you for 2016.

Despite media scare mongering and the doom of Brexit, we didn’t suffer adversely in 2016 as our strategy of dealing with the very best introducers and relying on their expertise, together with the British spirit of ‘getting on with it’, paid off.

Looking forward towards what I hope will be a successful and prosperous 2017, we have returned to the office with our sleeves rolled up as we get started on a significant pipeline of work. If we’re talking about early indications for the bridging market, then it’s looking strong!

Both volume and quality are on the rise, it’s not easy, but if it was anybody could do it and we know that is not the case.

This year we plan more of the same but, hopefully, with a few less surprises (anyone for a snap election and Jeremy Corbyn to win?) Regardless we will continue to provide the sensible, steady certainty that you and your clients can rely on. No shocks here!

We are very much looking forward to building lasting business relationships and doing what we do best, providing a genuine service and lightening quick bridging loans.

I’d like to take this opportunity to wish you all a very successful and prosperous 2017.