HFBS returns to business on 4th May

HFBS took the decision to temporarily stop lending at the close of business on the 25th March, because it would be unable to offer its usual service under lockdown provisions.

Following its return to lending, HFBS has assured new businesses that:

• it will not be reducing its LTV or increasing its rates

• wherever possible, it will be utilising AVM’s, drive buys and existing valuations previously obtained for third parties

• if lockdown measures are eased, it may return shortly prior to 4th May to enable new applications to be instigated

It also assured existing clients:

• it has extended forbearance to two months for clients with a contract becoming term expired between 25th March and 1st July 2020 and has waived the usual arrangement fee

• it will not instigate new litigation for possession earlier that 1st July

• it never applied a default rate where a contract runs beyond the contractual term

• it does not provide information regarding account status with third party credit reference agencies

• it is happy to accept any sum should a client wish to reduce their indebtedness and will apply such sums as they are received without any penalty

• it will prioritise clients with the shortest remaining term on its return