HFBS bridging loan secures commercial development


bridging loan somersault

Holme Finance Bridging Solutions (HFBS) stepped in when ambitious plans to develop a commercial site required much needed flexible finance to make it happen.

The client approached HFBS with a request to raise a £290,000 net loan secured on a mortgage free buy-to-let property valued at £650,000 with plans for the loan to be used on a commercial development.

Dan Yendall-Collings Senior Underwriter at HFBS commented:

“Normally valuations slow a bridging deal down, however we secured a valuation very quickly on the investment buy-to-let property.

We worked hard to ensure that everything was in place within a rapid five working day period.

The favourable valuation on the buy-to-let meant we were more than confident in providing the funding which will be paid back once the commercial development is sold.”

It took HFBS five working days from receiving the application to the £290,000 pay out.

They agreed the loan over 12 months at 0.95% with the planned sale of the commercial development securing repayment of the loan.