In an impressive display of collaboration and efficiency, Holme Finance Bridging Solutions (HFBS) partnered with Clever Lending, the master broker and specialist finance packager, to seal a £24,000 second charge bridging facility within a mere three days of the initial customer enquiry.
The client, seeking funds for business purposes, reached out to Clever Lending directly on the afternoon of 15th August, expressing concerns over difficulties faced with a previous second charge lender. The pressing need was to secure the funds by 18th August, given the existing challenges related to assorted legal matters and the previous lender.
Understanding the gravity of the situation, Clever Lending quickly conferred with HFBS. In a game-changing move, HFBS agreed to step in and provide the second charge loan without requiring consent from the first charge lender. Trusting the property valuation already carried out by the previous lender, HFBS promptly packaged the deal on the same day.
With the clock ticking, HFBS approved the loan offer on 16th August. By the next day, all parties met to finalise the application. The concerted effort of both teams ensured that the case was completed on 18th August, right on cue with the client’s tight deadline.
The deal spotlighted a net bridging loan of £24,000 against a property valuation of £220,000, culminating in a total loan to value (LTV) of 60% when considering the first charge.
Steve Sanderson, the commercial and bridging specialist at Clever Lending, said: “This case came with an extremely tight deadline, but it did not put us off. We knew that Holme Finance Bridging Solutions would consider a second charge application without the first charge lender’s consent and so worked closely with them to ensure we could package the case as soon as possible.
“The case completed on schedule because the parties involved were committed to making it happen, including the customer, who was very responsive.”
Dan Yendall-Collings, Senior Underwriter at Holme Finance Bridging Solutions, further elaborated, “Our collaboration with Clever Lending epitomises what we stand for: being problem solvers in pressing times. Trust, adaptability, and swift decision-making are pivotal, and we’re proud to have showcased this in the recent deal.”
This endeavour marks a significant achievement in the bridging finance sector, emphasising the importance of collaboration, trust, and agility in serving client needs.
Dan Yendall-Collings, Senior Underwriter, Holme Finance Bridging Solutions said:
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.