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UNCONVENTIONAL PROPERTY REQUIRES UNCONVENTIONAL FINANCE

Struggling to raise finance by conventional means, Holme Finance Bridging Solutions (HFBS) were approached to assist in helping a property developer complete a programme of renovations on an unconventional property build before letting the property out.

Not being of traditional brick and tile construction meant the developer was limited to the amount of standard lenders willing to take on the case. Adding to complications, it had been vacant for a number of years and required considerable renovation works to make it habitable from its semi-derelict state.

Dan Yendall-Collings, senior underwriter at HFBS says: “Conventional lenders wouldn’t look at this short term deal but we were willing to take a closer look. Purchased for £95,000 cash, £50,000 was required to get the property ready for a tenant. After meeting with the client and viewing the property, we were confident that the developer’s fully costed schedule of works were realistic and achievable and happy to lend to get the project complete and viable for a longer term refinancing option.”

HFBS required a valuation in this instance but once complete and satisfied with the feasibility of the works proposed a two-stage drawdown plan was agreed. Starting with an initial net advance of £25,000, the second account would be provided once stipulated works carried out are completed subject to HFBS inspection. The loan agreed is over a 12 month term at a rate of 1.35% per month to be paid once the property is successfully re-financed.

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.

Fast Acting Finance Rescues Property Development

Holme Finance Bridging Solutions (HFBS) quick thinking and speed of advance on a 70 thousand pound loan didn’t just save a development project but ensured the developer didn’t pay crippling default fees on an existing loan.

A broker looking for a solution in a hurry approached HFBS. Speed was of the essence as the client had an existing bridging loan account due to go into default.

Ian Broadbent, director at HFBS says: “Due to unforeseen delays in the building project the developer was heading for an horrific default rate, and hefty fees. He was almost there with the property development but required peace of mind he wouldn’t be increasing his debt to an unmanageable level. There was also the additional requirement of an additional £9,000 to complete minor works and prepare the property for sale. Many companies would shy away from this kind of deal, but given the facts we were confident in the client’s ability get the project completed.”

HFBS were able to view the security address. The works were very well progressed and those completed were done so to a very high standard. In total a 70k net loan was advanced allowing the property to be completed for sale with the additional breathing space of a further 12 months to get a sale through.

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.

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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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.

Historically bridging loans should have a swift completions, the modern day reality is often they are little quicker than a residential mortgage but HFBS are different, old fashioned great service with a proven track record of achieving amazing customer service.

HFBS will go the extra mile to meet a customers expectations, whether that is speed, efficiency, meeting face to face at short notice up and down the country or just delivery on what they offer, they will meet the customers’ expectations.

Simply put, HFBS deliver market leading service, every day…

Mr Matt Tristram, Co-Founder & Director of Loans Warehouse

The recent completion of a £205,000 advance, secured against a purchase, and completed in just three working days from initial contact prompted the following response from one of our significant introducers:

“Here @ Y3S we always have a positive approach, regardless of time constraints and tight deadlines. This case in particular was a challenge to say the least. But we knew, if we had the right partner and the right attitude, then this is something we could achieve. This is not the first time with have used HFBS, so we knew we had the right partner on board. From start to finish, Ian & his team mirrored our own enthusiasm to get this one done”

Mr Andrew Gage, Y3S Group

More4 Loans selected HFBS as our preferred bridging lender because they are exactly the type of lender we want to partner with. Not only do they offer a fantastic range of bridging loan products and with nationwide coverage, their speed of service is second to none. Ian and his team are quick to reply with approvals in principle and as they don’t need clients to employ solicitors can often turn round cases to completion in a matter of days. More4 Loans would have no hesitation in recommending other mortgage brokers, IFA’s or intermediaries to use HFBS

Mr Steve Pollard, More4Loans

HFBS are an innovative and dynamic company. Their bridging loan proposition fulfills a much needed niche in the bridging market. They take a common sense approach to lending and offer a great level of service.
Referring cases over to them could not be more simple and we are assured that our clients will be dealt with in a professional manner.

Mr Ian Miller, Highcroft Securities

When you need hassle-free, fast bridging I would always recommend HFBS. Every time they deliver again and again.

Mr Chris Warner, First4Commercial

We have worked with Holme Finance Bridging Solutions (HFBS) on many occasions over the years, primarily for smaller bridging loans of between £10k and £200k. Without doubt they are the best performing bridging company we have used. They always do what they say and move quickly to complete a deal and pay the commission. If its not one for them, you are told at the outset so you can immediately try and place elsewhere

Mr Gary Latham, bridgingloans.co.uk

Ian always finds time to chat through each potential deal, always honest in his assessment, and if he says he can do it, he will, promptly and efficiently! How refreshing in today’s market!

Mr Mike Wipfler, Lodhi Finance