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property auction

PROPERTY AUCTION FUNDS

Getting financial arrangements in order before a property auction was a top priority for a London Property developer looking to maximize profit.

With a refurbishment project coming to end, and with agents just instructed to market the property, he was eager to move on to his next development and keep his team in work.

Planning to buy a property at auction he wanted to go in as a cash buyer to allow for a quick completion and limit the time of inactivity. The £172,000 advance was needed within a very tight timeframe, which ruled out traditional mortgage lenders.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “The developer’s broker has had many dealings with us over the years and knew that if we said it could be done – that it would happen!

I personally completed the paperwork with the client and released the funds in just four working days. It would have been quicker but the size of the advance and requiring the security address to be valued prevented that, still four working days is pretty impressive.”

He was able to purchase his property at auction and able to continue to his next development.

Holme Finance Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending.

HFBS prides itself on being very different, filling a niche in the market to complement existing providers of short term finance and completing the more straight forward application without the need for solicitor involvement. Simpler, quicker, cheaper.