Tag Archives: small loan

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.

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Your Privacy is Important

Here at HFBS we take our customers and partners confidentiality seriously.

we take privacy seriouslyThe new Data Protection Bill and the EU General Data Protection Regulation is now in place and has ensured laws regarding data protection are more relevant and appropriate for our digital society.

Given this change we wanted to take this opportunity to let you know how we use your personal data.

Everything you need to know is outlined within our Privacy Policy, please take the time to read it, and if you have any queries or concerns don’t hesitate to call.

Read our Privacy Policy here.

LOAN CLEARS TAX LIABILITY JUST IN TIME

Holme Finance Bridging Solutions (HFBS) loan clears tax liability just in time.

HFBS approves a thirty thousand pound loan to solve a short-term cash flow problem and urgently clear a tax liability.

The request to raise £30,000 as a second charge to clear a tax bill came at short notice when the sale of an investment property sale fell through leaving two weeks to agree terms and pay the outstanding tax bill.

The property sale would have comfortably cleared the tax liability in good time, instead the owner was left with a looming payment deadline and no way of raising the funds required in such a short space of time.

Dan Yendall-Collings, senior underwriter at HFBS says: “Whilst this was tight we were confident we could step in and help. Having met with the client at the security address and being able to see the sales particulars, we were confident that we would be lending well below 50% LTV which meant we could lend without the need for a full mortgage valuation.

However the first mortgagee on the security address had a flexible account with an all monies charge. This meant a written confirmation of their maximum liability under that charge was necessary; this took two days to materialize. Nevertheless we still completed within our client’s timeframe and the matter completed successfully in just eight days.”

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.

Are bridging customers likely to be affected by the PRA’s new BTL affordability checks, which could prevent borrowers exiting bridging loans due to the increased rental yield hurdles?

PRA’s new BTL affordability checks…

Are bridging customers likely to be affected by the PRA’s new BTL affordability checks, which could prevent borrowers exiting bridging loans due to the increased rental yield hurdles?

In order to consider the impact of the PRA’a intervention in the Buy to Let market we firstly have to identify the two distinctive borrower ‘types’ who may utilise bridging finance in respect of these purchases.

There are those who wish to ‘flip’ a property for a quick return and in these circumstances the properties are often sold to private purchasers wishing to occupy them and there is therefore no impact, however many borrowers utilise such finance as a ‘bridge’ to a longer term mortgage solution, how will they fair?

The answer is mixed. The more professional investor often adds significant value to a property before refinancing longer term, thus reducing the required LTV and in many cases the rental yield provides greater coverage meeting the higher requirements. In addition they often have significant ‘stand alone’ income which is likely to be considered by the specialist Buy to Let funder. A combination of these things may assist in mitigating the impact although it is impossible to get away from the fact that the days of highly leveraging a portfolio to expand rapidly is on the way out!

The less experienced (but no less entrepreneurial individual) may have neither the stand alone income nor the ability to add such value, this will no doubt be the harder affected group.

Once again ill thought out government policy has a disproportionate effect on those simply trying to add a little security to their future.

As bridging lenders we all want to retain profitable business models and good client relationships. No one wishes to see a spike in litigation and possessions therefore the application of the new rules have to be carefully considered when advancing that bridging loan.

As always change brings fresh considerations and those that can apply a little common sense will prevail. There are new challenges and likely some moderate effect on volume but as always the best lenders and the savviest borrowers will thrive.

RETIREMENT INCOME SAVED BY HFBS

RETIREMENT INCOME SAVED BY HFBS

Retirement income saved by HFBS  who turn around a £100 thousand pound loan within four working days.

The 80 year old investor found himself in a financial jam after the sale of his Buy to Let fell through at the last minute whilst committed to completing on the purchase of a commercial property run as a chip shop.

With only days left to complete HFBS were called on to provide the £100,000 shortfall and a lifeline desperately needed to ensure the deal went ahead securing the clients aims of generating additional retirement income.

Ian Broadbent, Director at HFBS says: “Our client had very limited options due to his grand age of 80 years. We required a valuation on this deal but we were able to arrange a quick drive-by valuation to satisfy our requirements. Also independent legal advice was necessary, but thankfully, all due diligence was satisfactory and we were able to pay-out within 4 working days.”

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 and one of lowest advances, starting from just £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 finance

RE-BRIDGE ALLOWS DEVELOPER TO MOVE ON

A property developer has avoided paying a de-fault rate on a bridging loan thanks to a £55,000 re-bridge loan on a property valued at £360,00 with Holme Finance Bridging Solutions allowing development to progress.

The developer purchased the property earlier this year at auction using a bridging loan with the intention of splitting the property into two self-contained flats, selling one off to clear the debt and retaining one as an investment.

Unfortunately unexpected hold-ups in the planning and development processes meant a delay in the development which lead to an inability to keep to the original bridging loan terms.

Ian Broadbent, Director at HFBS says: “The client approached us after his initial bridging loan lender refused to consider an extension to the term without applying a default rate, nearly double the original rate, and charging fees again.

“We were able to assist and redeem the existing bridging loan on time whilst providing the developer with a six-month term on the re-bridge and plenty of time to achieve a sale on one flat to repay the loan.Bridging finance

HFBS are always more cautious when re-bridging a bridge however after meeting the developer face to face they were satisfied the project would be successful once back on track.

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 of 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 MAKES IT HAPPEN

BRIDGING LOAN MAKES IT HAPPEN

Holme Finance Bridging Solutions turnaround a second charge loan of £250,000 in days to save their client from amplified pressure and considerable embarrassment on a business deal.

The delay of a house sale had left a property developer short of funds to complete essential structural and renovation work at an investment property.

With tenants ready and waiting to move in, and builders’ invoices to pay, further work was critical to the success of the project and needed to be accelerated to reach a satisfactory conclusion for all parties.

Moving the project to its final stages the developer’s broker approached HFBS to bridge the gap.

Ian Broadbent, Director at HFBS says: “Regardless of good plans, anything can happen, especially when developing property. We knew we could make it happen for the client and so did the broker, who approached us having dealt with us many times before knowing we act quickly and make instant decisions.

“With significant equity in the property being sold we were able to rely on an estate agents valuation to sign the deal. Completion and funds in the bank took less than a week leaving our broker happy and property developer able to complete the project.”

With an average completion 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 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.

seven thousand pound bridging loan

Seven Thousand Pound Bridging Loan Delivered

In just three days Holme Finance Bridging Solutions signed, sealed and delivered a seven thousand pound bridging loan without the need for a formal valuation.

seven thousand pound bridging loan
Small bringing loan of seven thousand pounds signed, sealed and delivered in three days.

When property developer needed more funding to complete his project he never thought securing just seven thousand pounds would be difficult. His bank said no and bridging loan lenders weren’t prepared to advance such a small amount on a relatively low value property.

Bought at auction for £47,000 with the intention of fully refurbishing and selling on he needed seven thousand pounds to complete the project to a standard where it could be marketed to achieve maximum potential.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “We met with the client, viewed the property, and could see for ourselves the excellent standard of progress already made; it was clear he knew what he was doing.

Without the need for a formal valuation, which meant no upfront fees for the client, and no solicitor involvement, we were able to advance the loan in just three working days from the date of application.

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.

PERFECT BRIDGING

HFBS HAVE THE PERFECT BRIDGING FOR NORTH SOUTH DIVIDE

If you thought there was a bias to bridging loans in the south, or more specifically within the M25, then you’d be right, but it isn’t all doom and gloom.

The fact is bridging loan companies with no limit to funds are generally owned by big companies, big companies looking to make big gains. Small loans are small fry and relatively inconsequential in the grand scheme of things.

Not so for Holme Finance Bridging Solutions. They don’t hold a geographical or loan size bias, they welcome working with clients throughout England and Wales irrespective of property value.

Ian Broadbent, Managing Director at HFBS says: “Our funders are wealthy individuals not corporations. Our average loan is generally 60 thousand, and this is how we like it. We love small bridging loans and working face to face with our customers to understand their long term goals and how we can support them – perfect bridging.”

So before you think you’re too small, think again,

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 straightforward application without the need for solicitor involvement. Simpler, quicker, cheaper.

small loans

NIMBLE APPROACH TO ADD WOW FACTOR

When first time property investor overspent on a profitable refurbishment project, she was left short of available cash to complete the property for sale.

After approaching several lenders who were willing to lend money, but nothing as small as five thousand pounds – preferring to loan a minimum amount of 25 thousand pounds minimum, she turned to Holme Bridging Finance Solutions to complete the job.

Ian Broadbent, director at HFBS says: “It was clear the development only needed five thousand pounds to see it to a very profitable completion, which was a win, win situation for our client and our return. We are the only bridging company to provide such small loans and are very happy to provide it. We would never encourage a client to borrow more than they need.

HFBS were able to approve and transfer funds within seven days without reference to restrictive rules often placed on lenders by their own funding, no solicitor involvement, resulting in a quicker and maximum return for the client.

HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years. With no bank or hedge fund borrowings they have complete authority to lend in a flexible manner, unlike many of their competitors, to meet a client’s needs.