Tag Archives: flexible bridging

FLYING START FROM LOCKDOWN CONTINUES

Following on from our last news referring to the flying start made since our return on the 11th May 2020 we are delighted to list more of the cases we have completed in the last week.

The following cases were received as new applications on or after the 11th May:

Mr M

The client had been impacted by Covid 19 and exit plans for his existing bridging finance had been delayed meaning he required a lender with a flexible approach to re-bridging. We advanced £97,999 at 1.35% mth over 12 months with interest to be ‘rolled up’ secured by second legal mortgage over an investment property. The valuation was established by a combination of AVM and our own inspection.

Mr A

The client is self employed as a property manager and short term income has been impacted by Covid 19. We advanced £52,395 at 1.25% month over 12 months secured as first legal mortgage  for business cashflow purposes.  The security was a residential BTL estimated at £150,000 . Valuation was established solely by AVM only.

Mr & Mrs S

The clients were looking for a moderate advance to invest in their business and secure a major contract. We advanced £28,975 at 1.5% month over 12 months secured by second legal mortgage with interest rolled up. The security was a residential BTL estimated at £300,000 with an existing mortgage of £107,000. Valuation was established by AVM only.

Mr & Mrs C

The clients had an existing bridging loan however they required more time to secure an exit and significant additional borrowing for a business opportunity. We advanced £153,895 at 1.1% month over 12 months with interest to be ‘rolled up’ secured by second legal mortgage over the clients’ home address. The valuation was established by a combination of AVM, agents proposed sales estimate and our own inspection.

Ian Broadbent, direct at HFBS says: “It looks like lockdown was a distant memory! People are so keen for bridging and keen to get ahead with their plans. The bridging business is facilitating those plans and people, especially our brokers are appreciating our quick and uncomplicated ways of working.”

For a lender with genuine USP’s and an urgency that matches your clients why not give us a try ?