Monthly Archives: November 2019

TOP CRITERIA SEARCH GOOD NEWS FOR HFBS SMALL LOANS

Top loan criteria searches performed by brokers has been revealed as “minimum Loans” which is very welcome news for HFBS who specialise in this very specialised form of finance.

Knowledge Bank recently shared its research reporting that the most common criteria searches for regulated bridging had lost its top spot to those searching for minimum loan amount.

Ian Broadbent, director at HFBS says: “This is most definitely welcome news for HFBS, but not a surprise as we have seen a significant rise in enquiries from brokers looking for small loan amounts. The main benefit to our brokers is that our system is designed to avoid the use of solicitors, which significantly reduces costs. From the clients point of view this makes the ‘smaller’ bridge much more viable, and easy for a broker who may otherwise think its more trouble than its worth.”

“Most customers really value our unique way of providing finance and our ethos of providing simple, quick small loans without solicitor involvement. We start from as little as £5,000, once the broker has identified the facility and agreed it with the client we take it from there, and all with a very good kick-back rate for the broker.”

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, no default rates. 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.

UNCONVENTIONAL PROPERTY REQUIRES UNCONVENTIONAL FINANCE

Struggling to raise finance by conventional means, Holme Finance Bridging Solutions (HFBS) were approached to assist in helping a property developer complete a programme of renovations on an unconventional property build before letting the property out.

Not being of traditional brick and tile construction meant the developer was limited to the amount of standard lenders willing to take on the case. Adding to complications, it had been vacant for a number of years and required considerable renovation works to make it habitable from its semi-derelict state.

Dan Yendall-Collings, senior underwriter at HFBS says: “Conventional lenders wouldn’t look at this short term deal but we were willing to take a closer look. Purchased for £95,000 cash, £50,000 was required to get the property ready for a tenant. After meeting with the client and viewing the property, we were confident that the developer’s fully costed schedule of works were realistic and achievable and happy to lend to get the project complete and viable for a longer term refinancing option.”

HFBS required a valuation in this instance but once complete and satisfied with the feasibility of the works proposed a two-stage drawdown plan was agreed. Starting with an initial net advance of £25,000, the second account would be provided once stipulated works carried out are completed subject to HFBS inspection. The loan agreed is over a 12 month term at a rate of 1.35% per month to be paid once the property is successfully re-financed.

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.