HFBS is pleased to announce the recent approval of a bridging loan of £195,000 for a new investment property purchase at auction.
Initially hoping to raise funds through a remortgage of a commercial property, the developer was advised by a broker that commercial mortgages were taking significantly longer to approve. Taking the advice of the broker, HFBS were approached to assist with an urgent bridging loan to help meet a tight auction deadline, enabling the purchase of an investment property.
The approved loan amount stands at £195,000 net, with an attractive interest rate of 1.29%. This loan, structured with a 12-month term, represents almost 50% loan-to-value (LTV) as a second charge, reflecting HFBS’s confidence in the project and the borrower.
“Our team is delighted to back this semi-commercial property,” said Dan Yendall-Collings at HFBS. “The semi-commercial property in question features a nursery on the ground floor with three flats above, which presents a unique investment opportunity we are proud to support.”
The competitive rates and flexible terms from HFBS are designed to help their clients achieve their real estate goals. The semi-commercial property sector is a vital part of the company’s lending portfolio. HFBS remains dedicated to providing tailored financial solutions to meet the diverse needs of its clients.
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.