Fraught business owner approached bridging loan experts Holme Finance Bridging Solutions with the urgent funding deadline of four working days to save a lucrative new business deal.
HFBS didn’t walk away, upon learning the client had been let down by creditors, resulting in severe cash-flow issues, which then impacted on financial outgoings, and more importantly a business deal deadline, they approved a second charge on a BTL property in minutes.
Ian Broadbent, director at Holme Finance Bridging Solutions says: “Sometimes things just don’t go according to plan. Although the client was confident of things falling into place in time to complete the business deal, they simply didn’t.
Thankfully we were able to save the deal via a BTL property, we approved the loan in minutes, posted out contracts, and paid-out within the tight deadline of four days.”
A full valuation wasn’t needed as the security address held significant equity, which was confirmed by a credit search and subsequent confirmation letter from the client’s mortgage lender.
The client has now moved forward with the new business transaction and is confident it will net more than sufficient to repay the bridging loan within the next 6-8 weeks.
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.
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.