Holme Finance Bridging Solutions completes 72 hour bridging loan
Holme Finance Bridging Solutions (HFBS) turns urgent fifty thousand pound bridging loan deal around in under 72 hours after been approached by broker eager to find a solution.
Eager to make it happen for their client HFBS received the case late Tuesday afternoon and were able to issue documents the following day with confirmation and contract signing taking place the day after.
The funds were successfully deposited into the client’s bank account first thing Friday morning.
Dan Yendall-Collings, senior underwriter at HFBS says:
“The client had a property that was currently tenanted with tenants on notice to vacate as the property was to be sold.
It was hoped the sale would assist with some urgent financial commitments but unfortunately the property hadn’t benefited from a firm offer.
At this point it was decided a bridging loan would be the best option to solve a short-term problem until the buy to let property sold.
Their broker knew it was critical for them to access funds quickly and avoid default penalties on their other commitments, which is why they came to us.
They knew that if they were to stand any chance of achieving the completion deadline – they would have to come to us.
I’m pleased to say we were able to help in the timeframe in record time of less than three working days.”
HFBS issued a £50,000 bridging loan as a first charge over a 12 month term at 1.1% per month.
No valuation was required as the desktop valuation provided a strong confidence level and meant that the LTV was comfortably under 25%.