Member Article

Sale of Burden Property goes Ahead thanks HFBS

Holme Bridging Finance pay out in just four days to help their client carry out light refurbishment work on a vacant Buy to Let property in a bid to gain the best possible sale price.

After relocating to central London the client was struggling to maintain a BTL investment. Not in the best condition and vacant it was imperative the BTL was sold as quickly as possible at market value.

Unfortunately the client’s credit scoring wasn’t at the level required and even her own bank couldn’t offer an unsecured option. She approached many lenders and brokers to discuss the possibility of secured finance, but with minimum advances of around £25,000-50,000 she didn’t want to be forced to borrow more than required.

Ian Broadbent, Director at HFBS says: “With a small team of local handymen lined up to turn the property around we were approached by the client’s broker to help progress the work.

After meeting the client we felt confident that there was significant value in the security address and agreed to a small loan of £10,000 to cover the refurbishment work, some initial legal costs relating to the sale, and a small buffer without the need for a valuation.“

With an average completion taking less than seven days from enquiry to money in the bank, no solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, HFBS really mean business.

HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month and one of lowest advances, starting from just £5,000. 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. Simpler, quicker, cheaper.

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