Holme Finance Bridging Solutions approve a two hundred and sixty thousand pound bridging loan to allow a professional client with a side line in property development to complete the purchase of a holiday home in Spain.
The client had originally hoped the proceeds required would have been released from the sale of one (of two) residential developments however timescales on these had overrun and both were short of completion.
Ian Broadbent, Director at HFBS says: “Our client owned a title which included a commercial premises occupied by himself and two residential properties which were in the latter stages of completion with a combined value as stood of £770,000. The client had the funds to complete the development, and with no mortgage outstanding and a clean credit status, we were happy to provide the loan to avoid the loss of the deposit placed on the holiday home.”
Provided with a facility at 0.95% month the loan will be repaid from the proceeds from the sale of one of the two residential units and strong business cash flow.
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 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.