HFBS recently provided a bridging loan to help complete a remarkable new-build eco-house project in rural Yorkshire. The client, who had embarked on a “Grand Designs” style venture, found themselves in financial difficulty partway through the construction.
The project was an ambitious circular timber structure featuring extensive glasswork, set in a scenic area of Yorkshire. The client had initially budgeted to see the build through to completion but soon encountered rising costs. Determined not to compromise on the quality and vision of the unique design, they continued progressing until funds ran out while finishing the high-spec interior.
At the point of needing additional funds, the structure was already watertight, but bespoke elements required to complete the interior, and the landscaping remained unfinished. The client, who had invested significantly into the project, estimated the final value to be close to £1 million, making it crucial to maintain the high standard of the build.
Their broker approached us for a net loan of £60,000 to allow the client to complete the project. Dan Yendall-Collings Senior Underwriter at HFBS said: “Given the property’s close proximity, just a 15-minute drive from our office, we visited the site to assess the potential in person. Recognising the substantial value already in place, we were confident in moving forward without a full valuation report.
HFBS offered the bridging loan at a highly competitive rate of 1.29% over 12 months, enabling the client to finalise the build, including landscaping, to maximise its appeal for a quick sale. This deal highlights HFBS commitment to supporting unique and high-value projects, ensuring ambitious builds like this reach their full potential.