Member Article

Holiday Home Deposit Saved by HFBS

Holme Finance Bridging Solutions approve a two hundred and sixty thousand pound bridging loan to allow a property developer to complete the purchase of a holiday home in Spain.

The loan was urgently required to cover a shortfall in capital which was due to come from the completion of the development and subsequent sale of a residential property which still required second fix finishing works before sign off and warranty would be available.

“Our client owned a development that including a commercial let and two residential properties with a combined value of £770,000. The client had the funds to complete the development, and with no mortgage outstanding and a clean credit status, we were happy to provide the loan to avoid the loss of the deposit placed on the holiday home.”

Provided with a facility at 0.95% month the loan will be repaid from the proceeds from the sale of one of the two residential units and strong business cash flow.

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 on advances from £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 .