Holme Finance Bridging Solutions turnaround a second charge loan of £250,000 in days to save their client from amplified pressure and considerable embarrassment on a business deal.
The delay of a house sale had left a property developer short of funds to complete essential structural and renovation work at an investment property.
With tenants ready and waiting to move in, and builders’ invoices to pay, further work was critical to the success of the project and needed to be accelerated to reach a satisfactory conclusion for all parties.
Moving the project to its final stages the developer’s broker approached HFBS to bridge the gap.
Ian Broadbent, Director at HFBS says: “Regardless of good plans, anything can happen, especially when developing property. We knew we could make it happen for the client and so did the broker, who approached us having dealt with us many times before knowing we act quickly and make instant decisions.
“With significant equity in the property being sold we were able to rely on an estate agents valuation to sign the deal. Completion and funds in the bank took less than a week leaving our broker happy and property developer able to complete the project.”
With an average completion less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.
HFBS offer the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month on advances from £5,000. 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. Simpler, quicker, cheaper.