Member Article

Bank Refuses Customer's Small Loan Request

In just three days Holme Finance Bridging Solutions signed, sealed and delivered a seven thousand pound bridging loan without the need for a formal valuation.

When a property developer needed more funding to complete his project he never thought securing just seven thousand pounds would be difficult. His bank said no and bridging loan lenders weren’t prepared to advance such a small amount on a relatively low value property.

Bought at auction for £47,000 with the intention of fully refurbishing and selling on he needed seven thousand pounds to complete the project to a standard where it could be marketed to achieve maximum potential.

Ian Broadbent, director at Holme Finance Bridging Solutions says: “We met with the client, viewed the property, and could see for ourselves the excellent standard of progress already made; it was clear he knew what he was doing.

Without the need for a formal valuation, which meant no upfront fees for the client, and no solicitor involvement, we were able to advance the loan in just three working days from the date of application.

HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 15 years with complete authority on their lending.

HFBS prides itself on being very different, filling a niche in the market to complement existing providers of short term finance and completing the more straight forward application without the need for solicitor involvement. Simpler, quicker, cheaper.

This was posted in Bdaily's Members' News section by Holme Finance Bridging Solutions .