Monthly Archives: July 2021

HFBS COMPLETES A THIRD CHARGE BUSINESS LOAN IN SIX WORKING DAYS

HFBS were recently approached by White Rose Finance on behalf of a client. The client had a pending second charge application which had been ongoing for several weeks when the proposed lender declined due to the inability to obtain the information they required from the first mortgagee.

On review it was clear that applying a little common sense not only could a deal be done but a third charge would be more cost effective for the client. The security was the clients own residence recently valued by the previous lenders valuer at £1,850,000. The client had a first mortgage balance of £416,000 and a current second of £100,000. The required loan was £100,000 to be used for an immediate cash injection to the business with the exit being the planned sale of the security. The loan was completed in six working days.

Ian Broadbent of HFBS commented “Whilst third charge lending is not particularly common it was clear on this occasion that it was both in the clients best interest and sound lending. A little flexibility was required in respect of the first mortgagees indebtedness however ‘common sense’ is where we shine. Working together with an excellent introducer this shows how a privately funded lender really can prove the best solution for a client.”

David Fine of White Rose Finance commented:  “This was a case we had struggled with for some time on consent issues but when HFBS took control they made all these problems disappear.

A phenomenally quick turnaround in the current lending environment from a thoroughly nice team as well!”

THE POWER OF TEAMWORK

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £10,000. 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. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.

Simpler, quicker, cheaper.

HFBS Help Client Save Thousands on Stamp Duty

When a plan to remortgage a holiday let to purchase a new property wasn’t going to complete in time to draw down funds for the 30th June stamp duty holiday deadline Holme Finance Bridging Solutions (HFBS) were approached to help.

The client required £200,000 to cover a slight shortfall enabling them to complete on a new property purchase, but they also needed to complete quickly in order to save tens of thousands in stamp duty. That’s when Sonny Gosai at Norton Finance approached HFBS.

Approached on Friday the 25th of June HFBS immediately issued their offer pack, the client confirmed receipt of Monday the 28th, HFBS visited the property on the 29th where arrangements to release the funds on Wednesday the 30th were made.

Dan Yendall-Collings, senior underwriter at HFBS says: “The client had an unencumbered large detached property worth £900,000, it clearly had significant value in line with the valuation report carried out for the mortgage lender, that coupled with being offered the first legal charge meant we were able to do the deal with no upfront fees as we didn’t require a new valuation. We were able to complete just within their time frame to save them a significant amount of money.”

Sonny Gosai at Norton Finance says: “With such a short space of time to beat the stamp duty deadline and save our clients thousands of pounds HFBS were the obvious choice.  Ian and Dan delivered when needed most.  With agreeing a valuation wasn’t required and in house legal team ensured that the clients received the desired outcome.  Speed really was key here and with Ian and his team that is exactly what was delivered”

HFBS issued a £200,000 bridging loan over a 12-month term at 0.95% per month in just four working days.

Dan continues: Working with the highly professional team at Norton Finance it was still a tight ask but because we have access to the funds and the flexibility to make our own decisions we were able to make it happen. We now have a very happy broker, and a VERY happy client.”

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £10,000. 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. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.

Simpler, quicker, cheaper.