HFBS provided a £93,000 advance as a second charge, enabling the developer to complete a schedule of works on a block of flats.
The loan was secured against a holiday let as the block of flats was owned in a limited company name.
Ian Broadbent, director at Holme Finance Bridging Solutions, said: “The refusal from the initial [financier] to release the second stage of funds came as a complete shock to our client.
“The project could have quickly become a financial and personal crisis.
“This was the first time he had heard of us, but praised us highly for our speed, efficiency and ability to complete without two different sets of solicitors, which would have caused countless delays on the completion.”
In July, HFBS came to the aid of another developer, providing £60,000 in just three days.
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