Monthly Archives: December 2015

new property developers

LOAN ENSURES CREDIT STATUS IS CLEAN

New property developers keep credit status clean during their first project thanks to Holme Bridging Finance Solutions clearing debts with a 25 thousand pound loan.

New to property developing the client had purchased a semi-derelict small investment property for cash. Having completed all the essential building works they needed further funding to complete the refurbishment – which they did through borrowing on credit cards.

Ian Broadbent, director at Holme Bridging Finance Solutions says: “They were new to the property development game and although they had done an excellent job on the property they had limited financial knowledge and didn’t know the funding options available to them.

“With no income they were struggling to maintain the monthly commitments and recognised they would be in a financial mess if they didn’t look for a better option. We stepped in with a £25k net loan to enable them to clear all of the outstanding invoices and credit card debt that they had taken on. They then had the option of adding the interest payments to the account.

With no income until the property sold taking a bridging loan met with their needs perfectly and enabled them to keep their credit status clean pending the eventual sale.

Ian continues: “As a first charge and having personally inspected the property we were able to satisfy ourselves that our option would actually benefit the client. We advanced without the need for a full valuation within just five days of them applying.”

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.

HFBS prides itself on being very different, filling a niche in the market to complement existing providers of short term finance and completing the more straight forward application without the need for solicitor involvement. Simpler, quicker, cheaper.

PERFECT BRIDGING

HFBS HAVE THE PERFECT BRIDGING FOR NORTH SOUTH DIVIDE

If you thought there was a bias to bridging loans in the south, or more specifically within the M25, then you’d be right, but it isn’t all doom and gloom.

The fact is bridging loan companies with no limit to funds are generally owned by big companies, big companies looking to make big gains. Small loans are small fry and relatively inconsequential in the grand scheme of things.

Not so for Holme Finance Bridging Solutions. They don’t hold a geographical or loan size bias, they welcome working with clients throughout England and Wales irrespective of property value.

Ian Broadbent, Managing Director at HFBS says: “Our funders are wealthy individuals not corporations. Our average loan is generally 60 thousand, and this is how we like it. We love small bridging loans and working face to face with our customers to understand their long term goals and how we can support them – perfect bridging.”

So before you think you’re too small, think again,

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.

HFBS prides itself on being very different, filling a niche in the market to complement existing providers of short term finance and completing the more straightforward application without the need for solicitor involvement. Simpler, quicker, cheaper.

THE LAST 12 MONTHS

Ian Broadbent, Director of Holme Finance and Bridging Solutions, shares his view on the last 12 months in the bridging market and what it means for the year ahead…

The financial ‘squeeze’ has brought short term secured lending well and truly into the mainstream. Bridging loans have almost become the go-to loan of choice resulting in the rapid expansion of a number of lenders. It’s nothing new, but the sector has benefited from an increase in understanding and awareness amongst everyday people like you and I.

The flexibility of short term lending is the real pull for clients. Consider the range of options on offer. Advances from £10,000 up to £20,000,000 or more, terms from one month to 36 months and rates from just 0.59% up to 2% plus. This should be surprising given how difficult the traditional routes of funding are.

In addition, security can include land, commercial, buy-to-let, and just about any legal title imaginable. The borrower might be an individual, a limited company, a limited liability partnership or offshore trust, and with income evidence not required, adverse credit not a problem and speedy turnarounds – flexibility has well and truly become the preserve of the bridging loan lender.

However, it is also important to remember that this level of service will only come from an experienced bridging lender who can actually deliver.

See the full article here.

The above article was featured in Bridging and Commercial.

We are delighted to be featured and recognised as one of the leading bridging loan providers with a variety of specialist areas making us stand out from the crowd. The article was also shared on their Newsletter. Follow B&C on twitter @BandCNews

property mortgageable

COMMON SENSE DEAL GETS PROPERTY TO MORTGAGEABLE STATE

10k further advance for refurbishment project was desperately needed to prevent builders from downing tools and walking off an over budget project that wouldn’t complete a property to mortgagable state.

An existing client of Holme Finance Bridging Solutions (HFBS) the client was initially advanced a net loan of 25 thousand pounds but due to unforeseen circumstances the project went over budget.

Although the client had a very well thought out plan, with a thorough schedule of costs and works, once the works commenced it become clear additional work was needed to rectify a damp issue that had penetrated joists beyond repair.

Ian Broadbent, director at HFBS says: “Whilst he had a contingency in his budget it went slightly over. The two options were force the sale of an incomplete property, or agree a small further advance allowing him to complete all works and market at the full true open market value as intended.

Common sense kicked in, we didn’t want builders walking off the job leaving the client with a property that would not be easily marketable. We gladly agreed to advance a small second account to him to enable him to get to where he needed to be.”

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.

HFBS prides itself on being very different, filling a niche in the market to complement existing providers of short term finance and completing the more straight forward application without the need for solicitor involvement. Simpler, quicker, cheaper.