Tag Archives: HFBS

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.

HFBS BRIDGING LOAN FUNDS PROFITABLE SALE

HFBS BRIDGING LOAN FUNDS PROFITABLE SALE

HFBS bridging loan provide a profitable solution to a badly damaged BTL property after a disillusioned BTL investor decides to sell their investment.

Under considerable financial strain due to rental arrears and a huge repair bill the investor was forced to market the uninhabitable BTL property for sale.

Unfortunately a quick sale wasn’t forthcoming and after been advised the property should be renovated to increase its appeal, and therefore become mortgagable, HFBS were approached to fund the one hundred thousand pounds required to complete the work for a profitable sale.

Ian Broadbent, Director at HFBS says: “Our client couldn’t get a mortgage due to the condition of the property. Unsecured funding was not an option due to the amount required and the client’s credit status. The client had got to the point where they just wanted rid of the property and had even considered putting it to auction, but after speaking to an estate agent and consulting with local builders and decorators it become clear a sale would be achieved and net a healthy profit.

We are pleased to have helped provide a workable solution, the cost of borrowing the £100k has been considered by our client as insignificant in comparison to the potential of the profit available.”

Estimated to take six weeks, the renovation works will increase the property’s appeal opening up the market beyond cash purchasers and developers in time to hit a buoyant spring property market.

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 Loan Provides The Missing Link

Bridging Loan from Holme Finance Bridging Solutions provides missing link as it pays out 60k in just three days to help property developer keep his team rolling on to the next development project.

The initial funding plan was for the developer to wait for the proceeds to come through from the sale of a holiday home overseas. When that didn’t happen on time, and the developers latest project completed earlier, he approached HFBS to help him get started on the development of a piece of land.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “The developer just wanted to roll his team on to the next job seamlessly after a piece of land he had purchased acquired panning permission.

Although we will consider any security, valuing land without any comparison is tricky, the only option would have been to obtain an independent valuation. However the developer presented a standard residential BTL property free of a mortgage and worth in the region of £600,000 as security.

This enabled us to fund his next phase extremely quickly ensuring the client and his team kept rolling – everyone is happy.”

As there was no first mortgage on the property, HFBS were not delayed verifying the balance or obtaining a redemption figure, and due to the obvious value of the security address were able to offer the full amount required without the need for a full valuation.

HFBS were recommended as the preferred lender due to their long-term business relationship with the developer’s broker and their track record delivering within tight timescales.