One day is all it took for Holme Finance Bridging Solutions to help a client in need of a £50,000 bridging loan to release business cash-flow issues.
Approached by a broker and introduced to the client Friday afternoon HFBS collated the offer pack that day. Receipt of the offer pack was confirmed Monday morning followed by agreement to proceed with the client happy with the terms.
The client had come up against minor cash-flow issues requiring the £50,000 loan for staff wages. HFBS secured the loan by way of a second legal charge on the client’s home address. Using a desktop automated valuation of around £500,000, with a mortgage balance of just £60,000, the equity provided significant security to move ahead with the funding.
Dan Yendall-Collings, Senior Underwriter at HFBS says: “Fortunately the client was only an hour away so we were able to meet face-to-face at the home address to complete the paperwork. Happy to proceed we released the funds Monday afternoon, exactly one working day to complete from initial enquiry on the previous Friday afternoon.”
HFBS verified the balance of the first mortgage via a recent mortgage statement, carried out the relevant credit checks, and with no further information required from third parties £50,000 was paid out agreed at 1.25%pm with interest rolled up over a 12-month period.
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 40 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.