HFBS provides £195,000 bridge for developer
By Tom BelgerHolme Finance Bridging Solutions (HFBS) has lent £195,000 to help a property developer with an executive residential new build and refurbishment project
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The developer had been unable to secure funds via traditional routes, such as high street mortgage providers, so turned to HFBS.
HFBS was asked to fund the project through to its completion with a bridging facility of £195,000.
The lender was satisfied that the developer had a good track record of successfully completing development projects and agreed terms over a 12-month period using a buy-to-let property in central London as security.
“Having met with the client, it was clear we would be able to agree a deal,” said David Broadbent, director at HFBS.
“We were happy to support the development knowing there would be a healthy profit in the sale, at which time we would receive full payment.”
Keywords: Holme Finance Bridging Solutions, HFBS, Bridging finance, bridging loan, David Broadbent, property developer, development finance, bridging loan, bridging finance lenders, bridging finance brokers, secured finance, property developer loans