Monthly Archives: January 2017

SALE OF BURDEN PROPERTY GOES AHEAD THANKS TO HFBS

SALE OF BURDEN PROPERTY GOES AHEAD THANKS TO HFBS

Holme Bridging Finance pay out in just four days to help their client carry out light refurbishment work on a vacant Buy to Let property in a bid to gain the best possible sale price.

SALE BURDEN PROPERTY GOES AHEAD
SALE OF BURDEN PROPERTY GOES AHEAD THANKS TO HFBS QUICK SERVICE.

After relocating to central London the client was struggling to maintain a BTL investment. Not in the best condition and vacant it was imperative the BTL was sold as quickly as possible at market value.

Unfortunately the client’s credit scoring wasn’t at the level required, and even her own bank couldn’t offer an unsecured option.

She approached many lenders and brokers to discuss the possibility of secured finance, but with minimum advances of around £25,000-50,000 she didn’t want to be forced to borrow more than required.

Ian Broadbent, Director at HFBS says: “With a small team of local handymen lined up to turn the property around we were approached by the client’s broker to help progress the work.

After meeting the client we felt confident that there was significant value in the security address and agreed, without the need for a valuation, to a small loan of £10,000 to cover the refurbishment work, some initial legal costs relating to the sale, and a small buffer.”

With an average completion taking 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 one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month and one of lowest advances, starting from just £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.

HFBS providing bridging support during 2017

HFBS Providing Bridging Support During 2017

Never ones to jump in too quickly we didn’t want to make comment on the New Year until the early signs were there (let’s face it, with the barmy events of last year anything was/is possible) but it now appears evident 2017 is odds on to be a good one.

Here at HFBS we are only too aware that pulling off that bet is down to the fantastic support we receive from you and we are certainly taking nothing for granted so rest assured we will continue to support you as best we can. Thank you for 2016.

Despite media scare mongering and the doom of Brexit, we didn’t suffer adversely in 2016 as our strategy of dealing with the very best introducers and relying on their expertise, together with the British spirit of ‘getting on with it’, paid off.

Looking forward towards what I hope will be a successful and prosperous 2017, we have returned to the office with our sleeves rolled up as we get started on a significant pipeline of work. If we’re talking about early indications for the bridging market, then it’s looking strong!

Both volume and quality are on the rise, it’s not easy, but if it was anybody could do it and we know that is not the case.

This year we plan more of the same but, hopefully, with a few less surprises (anyone for a snap election and Jeremy Corbyn to win?) Regardless we will continue to provide the sensible, steady certainty that you and your clients can rely on. No shocks here!

We are very much looking forward to building lasting business relationships and doing what we do best, providing a genuine service and lightening quick bridging loans.

I’d like to take this opportunity to wish you all a very successful and prosperous 2017.

Bridging finance

RE-BRIDGE ALLOWS DEVELOPER TO MOVE ON

A property developer has avoided paying a de-fault rate on a bridging loan thanks to a £55,000 re-bridge loan on a property valued at £360,00 with Holme Finance Bridging Solutions allowing development to progress.

The developer purchased the property earlier this year at auction using a bridging loan with the intention of splitting the property into two self-contained flats, selling one off to clear the debt and retaining one as an investment.

Unfortunately unexpected hold-ups in the planning and development processes meant a delay in the development which lead to an inability to keep to the original bridging loan terms.

Ian Broadbent, Director at HFBS says: “The client approached us after his initial bridging loan lender refused to consider an extension to the term without applying a default rate, nearly double the original rate, and charging fees again.

“We were able to assist and redeem the existing bridging loan on time whilst providing the developer with a six-month term on the re-bridge and plenty of time to achieve a sale on one flat to repay the loan.Bridging finance

HFBS are always more cautious when re-bridging a bridge however after meeting the developer face to face they were satisfied the project would be successful once back on track.

With an average completion taking 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 one of 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.