When an investment bond turned out to reserve heavy penalties for an early draw down an investor’s commitment to buy an auction property seemed to be in immediate jeopardy.
Dan Yendall-Collings, senior underwriter at HFBS says: “We were approached by a broker who knew we could provide funds within a week, thus ensuring the client could meet his property purchase commitment. We were asked to secure on an unencumbered investment property worth in the region of £650,000. A desktop valuation showed very clear evidence that the equity was more than sufficient for our £100,000, which allowed us to fund without a full valuation. This saved the client any upfront costs and enabled us to meet his tight deadline.”
HFBS issued documents, which were with the client on a Wednesday, followed by a visit from HFBS on the following Thursday to complete paperwork, with the completed documentation back on the Friday the necessary funds were released.
Completed within three days HFBS funded the £100,000 bridging loan over a 12 month term at 1.1% per month.
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.
Simpler, quicker, cheaper.