£15,000 just in-time funding was all that was needed to assist in the purchase of an investment property at Middlesbrough auction.
When an experienced property developer approached Holme Finance Bridging Solutions (HFBS) for a small bridging loan of £15,000 the underwriting team took just 24 hours to turn the funds around and all without the need for a valuation.
Providing an unencumbered BTL property worth in excess of £100,000 HFBS were happy with the desktop valuation which had the added bonus of not just saving the client huge amounts of time but also saving on upfront fees.
The urgent approach to HFBS was made on Friday afternoon in readiness for the property auction the following Tuesday. HFBS acted swiftly in ensuring the client had the offer pack for Monday followed by a personal meeting the same day with payment made that afternoon. Another HFBS record deal turned around in less than 24 hours from their working week.
Dan Yendall-Collings of HFBS commented: “We were approached on Friday afternoon by the property developer who had his eye on a number of low value properties to invest in. Knowing there was plenty of opportunity in the development we were really happy to help him purchase his next development project outright confident it would be a quick turnaround to sale.”
HFBS funded £15,000 at 1.5% agreed over a 12-month term with no upfront fees with a view to the property being renovated and sold within the term to settle the loan.
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances 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. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
Speak to us about your funding requirements.