All posts by Colette Lowe

QUICK TRANSFER OF FUNDS SECURES BUSINESS FUTURE

With a reputation for working fast Holme Finance Bridging Solutions were approached by a broker for an urgent bridging loan to redeem an existing bridging loan and raise additional funds to ease business cash flow.

HFBS were approached for a £47,565 to be secured against an investment property. £18,500 was required to repay the existing first charge bridging loan and the remaining funds were used to clear a business cash-flow problem.

Dan Yendall-Collins, senior underwriter at HFBS says: “As this was a first charge and a relatively small advance we could be confident that we could do the deal without the need for a full valuation. Based on comparable evidence and a desk-top valuation, we could see that the security property was clearly going to be worth in excess of £500,000 and so the only delay was getting the redemption figure through from the existing first charge lender.”

On the day HFBS received the case the client offer pack was immediately issued. The following working day HFBS visited the client to confirm the contract and two working days later received the redemption figure, which was immediately paid out.

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.

bridging boost

Custom Designed Luxury Home Receives a Bridging Boost

Holme Finance Bridging Solutions (HFBS) bridging boost helped property developer redefine luxury living in the home counties with a £255,895 bridging loan earmarked for the completion of a high-end development.

bridging boost

Positioned in one of the most exclusive real estate settings in the UK the development suffered a minor hiccup when the developer’s mortgage lender would not advance further funds to enable completion of the second fix, leaving the developer unable to realise an eventual sale of his investment.

Ian Broadbent, director at HFBS says: “This was a catch twenty two situation for the developer. Most lenders will not lend on a part-developed property which left the developer in a tough position unable to continue. The property had a £750,000 mortgage but was valued after first fix at £2.5 million and estimated value at completion of the second fix and landscaping at £2.8 million.

“We could see the potential, the development went beyond good quality, it was outstanding, the epitome of high-end luxury. It was clear to see the developer was very serious and committed to completing the property, we had no issues supporting his plans and were very happy to advance the loan.”

HFBS approved the £255.895 loan in December ready for when it was required in early February. The final paperwork was signed at the end of January with funds provided during the first week of February on 12 month terms.

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.

In uncertain times, think certainty!

Brexit! Not again I hear you scream! But this is positive news so please bear with us.

Many introducers have recently reminded me of the absurd knee jerk reaction of some lenders following the June 2016 referendum result and the inevitable return to normal when nothing much changed!

As with all such reactions whilst short term in nature it did cause significant disruption to introducers and their clients alike. Here at HFBS we are known for our straight talking, there is never any uncertainty when dealing with us, which is why we want to take this opportunity to put your mind at rest.

Take comfort in amidst of all of this uncertainty that we have continued to shun bank or other corporate funding to plough our own furrow with significant increases in our private funding lines and a growing book value.

Brexit or remain, I suspect we can all agree on one thing, the continued lack of any certainty at such a late stage is farcical. That is why we are pledging now that there will be NO knee jerk reactions from us, NO reducing LTV’s, No increasing rates and definitely NO pulling of our products in the days following an exit however that takes place. We value our introducers support and will continue to do so. Forward plan with confidence!

HFBS is one of the very first to be involved in bridging finance. We’ve been there and seen it all to come out wiser and stronger.

Be confident that as a privately funded lender, we can make immediate decisions and in most cases complete without the aid of solicitors. We’re all about getting someone where they need to be and supporting both them and their introducer to a successful exit strategy without imposing penalties!

We are happy to consider the ‘quirkier’ deals or those outside our terms. HFBS are absolutely dedicated to supporting and building long lasting business relationships.

Bridging loan completes purchase

Bridging Loan Completes Purchase

Holme Finance Bridging Solutions provides property developer with a first charge bridging loan for 68 thousand pounds.

Bridging loan completes purchase

The loan was required to purchase a three-bed semi detached house that had been converted into two flats. In a derelict state it was ripe as a development project to bring it back to a habitable state and profitable investment.

Contracts were exchanged with a delayed completion date set at six months allowing the renovation to begin in earnest to make the property habitable and therefore mortgageble.

Dan Yendall-Collings, senior underwriter at Holme Finance Bridging Solutions says: “In theory the delayed completion date would have enabled complete renovation works at which time upon completion a traditional mortgage route could be explored. However with several unexpected problems and delays the six-month period passed quickly. With the properties not quite completed, and the completion date looming, the developer’s broker approached us for a bridging loan.

Just days away from not being able to meet his commitment, and potentially giving the vender back two fully renovated flats for nothing, HFBS provided a £68,000 bridging loan against a valuation of £137,500 within seven days enabling the developer to complete on the purchase as agreed and organise refinance once he had secured tenants for both units.

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.

HOUSING ESTATE DEVELOPMENT COMPLETES WITH BRIDGING LOAN

Holme Finance Bridging Solutions (HFBS) ensure building can complete on a housing estate development site valued at £900,000 with a £50,000 bridging loan.

With buyers lined up for the first two of a select development of six homes, foundations were rocked when the property developer’s go-to funding partner, a crown funding company, found themselves unable to advance the funds as quickly as required to enable to completion of the first two homes.

With the option of waiting for funds, and the knock-on consequence of losing the significant sales of the first two properties, the developer had no choice but to seek alternative funding, and quickly.

Dan Yendall-Collings, senior undewriter at HFBS says: “Our unique ability to complete quickly comes into its own again. The developer couldn’t wait for funds to complete the properties, it was an urgent need that could have had devastating consequences if not approved.

“We took the enquiry on a Thursday, prepared the relevant documents the same day, visitied the site Friday and paid out the folllowing Monday morning. With a three day turnaround, and minimal site downtime, the progress of the development was saved.”

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.

Cash Flow Bottle Neck Eased With Quick Action

Holme Finance Bridging Solutions (HFBS) unique ability to complete quickly comes into its own again!

The deal was for a gross loan of £43,494 over 12 months at 1.35% month secured as a second legal mortgage over a buy to let with an estimated valuation of £700,000 and 1st mortgage balance of £225,000. Funds were required to ease a cash flow bottleneck allowing the introducer’s client to settle urgent payment of a tax bill

Ian Broadbent, director at HFBS says: “The broker approached us with an initial enquiry very late on the 16th at which point we provided immediate terms. The following day we received confirmation and the necessary approvals that the client was keen to progress with the bridging loan, we immediately requested the settlement figure from the first mortgagee with funds transferred to the client first thing on the 23rd October.”

Chris Warner, commercial mortgage broker at First 4 Commercial says: “I cannot speak highly enough of the guys over at HFBS. This case in particular has taken three working days from initial enquiry to funds in the clients account! Fast, effective bridging whenever my clients need it. Happy clients = Happy 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, 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.

Holme Finance Bridging Solutions break their own record with a bridging loan

BREAKNECK SPEED DELIVERS FUNDING IN 48 HOURS

Holme Finance Bridging Solutions break their own record with a bridging loan agreed and funded in just less than 48 hours.

When the request came through via a broker to fund a client’s auction deposit of £26,000, HFBS sprang into action. From enquiry on a Wednesday afternoon HFBS hit the post the same day, confirmation of receipt and a meeting on Thursday, with the funding pack completed Friday morning and funds transferred by midday.

Dan Yendall-Collings, senior underwriter at Holme Finance Bridging Solutions says: “This has to be a HFBS record. We didn’t require a valuation, the client offered an existing BTL as security, the finance checks ran through smoothly. Everything just fell into place in plenty of time for the auction which was first thing the following Monday.”

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.

QUICK ACTION PREVENTS COLLAPSE OF PROPERTY PURCHASE

Quick action from HFBS prevents the collapse of a property purchase.

When a high street bank mortgage application could not complete in time to secure a property bought at auction Holme Finance Bridging Solutions (HFBS) stepped in without delay to fund the £80k deal.

QUICK ACTION PREVENTS COLLAPSE OF PROPERTY PURCHASE
The only way is up with HFBS.

HFBS were approached by a broker to step in and save the property purchase from collapsing and crucially avoid the penalty of losing a hefty deposit – but it had to be turned around within four days.

Dan Yendall-Collings, senior underwriter at Holme Finance Bridging Solutions says: “The client had already agreed one extension for the auction purchase and had been told that a further extension would not be possible. They had to complete on a set day or they would lose the deposit paid.

“We could see that whilst the initial mortgage application had progressed there was absolutely no way that they could complete as quickly as required. Luckily they had just received the valuation, which we were able to see and rely on. Based on this we were able to agree the deal against the purchase price of £155,000.”

HFBS received the deal request on a Friday, signed the client up on Monday and were ready to complete on Tuesday, one day ahead of the prescribed schedule. The purchase mortgage application was then adjusted to a remortgage application to clear the HFBS loan account.

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.

HFBS A Star service completes property purchase

HFBS ‘A’ Star Service Completes Property Purchase

Holme Finance Bridging Solutions (HFBS) ‘A’ star service completes property purchase by providing property developer with a first charge bridging loan for 68 thousand pounds.

HFBS A Star service completes property purchaseThe loan was required to purchase a three-bed semi detached house that had been converted into two flats. In a derelict state it was ripe as a development project to bring it back to a habitable state and profitable investment.

Contracts were exchanged with a delayed completion date set at six months allowing the renovation to begin in earnest to make the property habitable and therefore mortgageble.

Dan Yendall-Collings, senior underwriter at Holme Finance Bridging Solutions says: “In theory the delayed completion date would have enabled complete renovation works at which time upon completion a traditional mortgage route could be explored. However with several unexpected problems and delays the six-month period passed quickly. With the properties not quite completed, and the completion date looming, the developer’s broker approached us for a bridging loan.

Just days away from not being able to meet his commitment, and potentially giving the vender back two fully renovated flats for nothing, HFBS provided a £68,000 bridging loan against a valuation of £137,500 within seven days enabling the developer to complete on the purchase as agreed and organise refinance once he had secured tenants for both units.

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.

Holme Finance Bridging Solutions (HFBS) turn a bridging loan for £59,545 around in three days.

THREE-DAY TURNAROUND SAVES DEFAULT PENALTY

Holme Finance Bridging Solutions (HFBS) turn a bridging loan for £59,545 around in three days to save a property developer incurring a £7,000 default fee from existing lender.Holme Finance Bridging Solutions (HFBS) turn a bridging loan for £59,545 around in three days.

HFBS were approached with the irregular request to re-bridge an existing bridging loan. With funds already borrowed to complete an investment property renovation and a sale agreed all was well until the buyer backed out.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “Usually we would be incredibly cautious when looking at re-bridging a bridge that has failed, but it was clear to see the developer was simply in an unfortunate situation. His buyer had backed out leaving him three days away from his loan deadline with a fee of £7,000 added should he fail to settle.”

With another buyer lined up the developer was confident of a sale but knew it would be impossible to complete within three days. The client had done all the right things by keeping in touch with his existing lender, however weighing up the overall cost he realised that taking an account with HFBS was considerably better for him than defaulting or extending with his existing lender.

“The completed development was top quality and had been marketed aggressively to line up a back-up sale immediately. As there was another sale agreed we obtained confirmation of the sale price from the solicitor, had the sales agent particulars and comparables all stacked up, which left us happy to fund £59,545 as a second charge of £196,527 with a sale agreed at £463,000.”

The deadline for the client’s existing lender receiving funds was 4pm on Friday the 1st of June. HFBS issued documents to the client on Wednesday 30th of May. Visited the development on Thursday the 31st of May and paid out on Friday the 1st of June in time for the 4pm default deadline, all without the need for a full valuation.

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.