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Loosing Property Auction Deposit Wasn’t An Option

When a broker’s client agreed to purchase a property at auction via a standard BTL      mortgage, no one anticipated it wouldn’t be completed in time.

Unfortunately that’s exactly the problem they were faced with. After agreeing to buy the property, and securing with a deposit, the end of the 28 day period was close and still with no mortgage offer.

Loosing Property Auction Deposit Wasn’t An OptionHolme Finance Bridging Solutions were approached in the hope of rescuing the deal by approving and funding a 69,000 bridging loan quickly.

Dan Yendall-Collings, senior underwriter at HFBS says: “Thankfully the client had managed to secure a 10 day extension agreed with the auctioneers. We did require a valuation as the property was boarded up and appeared uninhabitable. Thankfully the cash valuation came in as we expected enabling us to release funds immediately. We did this all within the auctioneers extension with two days to spare!”

HFBS approved the funding immediately issuing an offer pack subject to valuation.

The deal was completed within seven working days and provided over a 12 month term at 1.1% per month.

Dan goes on to say: “The client was relieved and happy that they could acquire the investment property and progress with works as originally planned. The alternative would have been to walk away and lose the deposit that he paid on the day, which would have been tragic! We’re pleased to have been able to save the deal, and the investment, and very much looking forward to seeing the development completed.”

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £10,000. 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. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.

Historically bridging loans should have a swift completions, the modern day reality is often they are little quicker than a residential mortgage but HFBS are different, old fashioned great service with a proven track record of achieving amazing customer service.

HFBS will go the extra mile to meet a customers expectations, whether that is speed, efficiency, meeting face to face at short notice up and down the country or just delivery on what they offer, they will meet the customers’ expectations.

Simply put, HFBS deliver market leading service, every day…

Mr Matt Tristram, Co-Founder & Director of Loans Warehouse

The recent completion of a £205,000 advance, secured against a purchase, and completed in just three working days from initial contact prompted the following response from one of our significant introducers:

“Here @ Y3S we always have a positive approach, regardless of time constraints and tight deadlines. This case in particular was a challenge to say the least. But we knew, if we had the right partner and the right attitude, then this is something we could achieve. This is not the first time with have used HFBS, so we knew we had the right partner on board. From start to finish, Ian & his team mirrored our own enthusiasm to get this one done”

Mr Andrew Gage, Y3S Group

More4 Loans selected HFBS as our preferred bridging lender because they are exactly the type of lender we want to partner with. Not only do they offer a fantastic range of bridging loan products and with nationwide coverage, their speed of service is second to none. Ian and his team are quick to reply with approvals in principle and as they don’t need clients to employ solicitors can often turn round cases to completion in a matter of days. More4 Loans would have no hesitation in recommending other mortgage brokers, IFA’s or intermediaries to use HFBS

Mr Steve Pollard, More4Loans

HFBS are an innovative and dynamic company. Their bridging loan proposition fulfills a much needed niche in the bridging market. They take a common sense approach to lending and offer a great level of service.
Referring cases over to them could not be more simple and we are assured that our clients will be dealt with in a professional manner.

Mr Ian Miller, Highcroft Securities

When you need hassle-free, fast bridging I would always recommend HFBS. Every time they deliver again and again.

Mr Chris Warner, First4Commercial

We have worked with Holme Finance Bridging Solutions (HFBS) on many occasions over the years, primarily for smaller bridging loans of between £10k and £200k. Without doubt they are the best performing bridging company we have used. They always do what they say and move quickly to complete a deal and pay the commission. If its not one for them, you are told at the outset so you can immediately try and place elsewhere

Mr Gary Latham, bridgingloans.co.uk

Ian always finds time to chat through each potential deal, always honest in his assessment, and if he says he can do it, he will, promptly and efficiently! How refreshing in today’s market!

Mr Mike Wipfler, Lodhi Finance