Monthly Archives: April 2016

Bridging Loan Approval in Minutes Rescues Deal

Fraught business owner approached bridging loan experts Holme Finance Bridging Solutions with the urgent funding deadline of four working days to save a lucrative new business deal.

Bridging loan approval in minutes.
Bridging loan approval in minutes.

HFBS didn’t walk away, upon learning the client had been let down by creditors, resulting in severe cash-flow issues, which then impacted on financial outgoings, and more importantly a business deal deadline, they approved a second charge on a BTL property in minutes.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “Sometimes things just don’t go according to plan. Although the client was confident of things falling into place in time to complete the business deal, they simply didn’t.

Thankfully we were able to save the deal via a BTL property, we approved the loan in minutes, posted out contracts, and paid-out within the tight deadline of four days.”

A full valuation wasn’t needed as the security address held significant equity, which was confirmed by a credit search and subsequent confirmation letter from the client’s mortgage lender.

The client has now moved forward with the new business transaction and is confident it will net more than sufficient to repay the bridging loan within the next 6-8 weeks.

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.

Troublesome Investment Property Receives Bridging Loan Boost

Bridging loan approved with confidence after mortgage lender walks away from mortgage in principle on auction bought property.

Moving ahead with no reason to doubt securing a Buy to Let mortgage offer the client bought at auction for 180 thousand pounds, leaving 28 days to complete the deal and pay the final balance.

Investment property receives confidence boost from Holme Finance Bridging Solutions.
Investment property receives bridging loan boost from Holme Finance Bridging Solutions.

With one week left to complete the mortgage application was rejected based on evidence of Japanese knotweed to the rear of the property. The mortgage lender would not offer the mortgage until this invasive plant had been professionally eradicated and certified as being clear.

With a completion certificate in hand HFBS – bridging loan specialists – were approached to help close the deal with a £123,000 advance – all within the tight deadline of a working week.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “Facing losing the deposit as well as the whole deal our client was taking a huge risk from the start hoping the mortgage would come through in the allotted 28 days. Of course the unnoticed evidence of Japanese Knotweed would have always been a deal breaker without the necessary works and insurance to ensure the weed would not reappear.”

“However we did advance the higher LTV we would normally consider due to the fact the relevant insurance was in place and plans for completed refurbishment to let would take just a few short weeks. We had the confidence to fund and were happy to save the deal within a very tight deadline.”

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.