Monthly Archives: November 2017

SHORT TERM BRIDGE FROM HFBS EASES STRESS

SHORT TERM BRIDGE FROM HFBS EASES STRESS

Short term loan from HFBS eases a stressful situation and agrees a short term bridging loan of fifty six thousand pounds to prevent an investor losing a significant BTL portfolio.

SHORT TERM BRIDGE FROM HFBS EASES STRESS

With a failed business and subsequent mortgage arrears, leading to the threat of repossession, quick action was needed to secure a London BTL portfolio and clear debts to enable a clear and structured plan of action for financial security.

Dan Yendall-Collings, senior underwriter at HFBS says: “We’re always cautious when a client is in severe difficulty. Unfortunately for our client his business had failed resulting in sole reliance on the rental income from his BTL portfolio. Regrettably it was a struggle and led to mortgage, ground rent and service charge arrears. We met to discuss his plan of action and agreed to clear his debts whilst he freed up a significant amount of cash from the sale of two properties from his portfolio.”

From application to pay-out, even waiting for confirmation of mortgage arrears and ground rent arrears, HFBS completed in just five working days. Selling the properties will free up significant cash reserves allowing the loan to be paid off promptly enabling a comfortable retirement for the client.

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.

Bank of England Rate Increase

‘Surprise, Surprise ( not the game show hosted by the late, great Cilla Black) but the decision by the Bank of England to increase base rates by one quarter of one percent. To be fair to the BOE their job is to ensure no unnerving sudden moves to upset those sensitive souls in the city markets. What does it actually mean though?

I am a great believer that such moves are generally hyped up for the headlines and no doubt this time will be no different. ‘ 000’s to lose there homes’ , ‘mortgage MISERY!’ , ‘debt mountain many on a precipice’ , ‘Mickey Mouse faces eviction’ , we all know the kind of thing. The reality is a little more mundane. YES! a very small number of borrowers are genuinely that tight and for others there may well be a small tightening of the belts (and a modest drop in consumer spending) however it has been flagged and some people have mitigated the risk; others, unfortunately may suffer but that is always the case.

On the longer term front this simply has to happen and the sooner it is begun the slower, steadier the pace can be. After all we are reaching levels of unsustainable personal debt and prompting people that the current historically low interest rates are a temporary not a permanent phenomena is not a bad thing. Let the air out of the balloon gently and more of us will be around to enjoy future, sustainable growth.

Having lived through two severe ‘Busts’ with the grey hair to prove it, a little ‘prudence’ (remember her) seems just the ticket!

Now all we have to contend with is every other ill judged intervention in the property market, oh joy!

Development goes ahead thanks to HFBS

DEVELOPMENT RECEIVES THE GO AHEAD FROM HFBS

Development goes ahead thanks to HFBS who help property developer achieve his vision for an executive residential new build and refurbishment project.

Development goes ahead thanks to HFBS

Unable to secure funds via traditional routes, such as high street mortgage providers, HFBS were approached to fund the project through to its completion with a bridging loan of one hundred and ninety five thousand pounds.

HFBS were satisfied the developer had a good track record successfully completing development projects and agreed terms over a 12 month period using a BTL property in central London as security.

David Broadbent, Director at HFBS says: “Having met with the client it was clear we would be able to agree a deal. We were happy to support the development knowing there would be a healthy profit in the sale, at which time we would receive full payment.”

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.