When a client successfully secured a block of four flats at auction, they quickly realised their original finance option wasn’t viable. The lender could only fund if the property was habitable and ready to let; a problem, since the building was in semi-derelict condition and required significant works before tenants could move in.
With just 28 days to complete and legally bound to proceed, the client and their broker turned to HFBS. While they had some cash to put into the purchase, there was still a £170,000 shortfall to bridge, and time was running out.
Because HFBS is wholly self-funded, they have complete authority over lending decisions. This means no bank mandates, no fixed rules, and no unnecessary delays. Having assessed the case quickly and they were able to offer a net loan of £170,000 secured by way of a second charge on the client’s home address.
Dan Yendall-Collings Director at HFBS said: “A valuation confirmed everything was as expected, allowing us to release the full amount at a competitive 1.09% per month. The funds were prepared for release the same day ready for the auction the day after — just in time to meet the deadline.”
HFBS provided a 12-month term, but the client expects to complete the refurbishment and refinance within six months, making this the perfect flexible bridging solution. At HFBS, speed and flexibility are what set us apart. When others pause, HFBS say yes.