Three-day completion on bridging loan saves investor from defaulting on sale contract thanks to the express mobilisation of Holme Finance Bridging Solutions.
Ian Broadbent, director at HFBS says: “We frequently fund auction purchases but this deal was slightly different. Our client was left high and dry; he had bought a property at auction and became aware his lender would not be able to deliver, certainly not within the time he required.
In fear of losing his deposit and the prospect of suffering penalties for defaulting we met with our client and were satisfied with the equity in the security address – there was no need or reason to delay further.”
With only four days to complete Holme Bridging Finance Solutions met with their client, inspected the property, and with the benefit of their individual approach, they were able to provide the relevant documentation and cleared funds to their client’s solicitor with one day to spare!
HFBS were able to approve and transfer funds within three days without reference to restrictive rules often placed on lenders by their own funding, no solicitor involvement, resulting in a quicker and maximum return for the client. Flexible funding is one thing we do well.
HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years. With no bank or hedge fund borrowings they have complete authority to lend in a flexible manner, unlike many of their competitors, to meet a client’s needs.