The lender helped a businesswoman and entrepreneur get a property venture up and running with a £50,000 loan at 0.95% per month.
The client was planning to fund the purchase of a house in multiple occupation (HMO) through her limited company, but turned to HFBS after that process took too long to deliver.
HFBS was able to provide the funds within one week.
Ian Broadbent, director of HFBS, said: “We were happy to go ahead based on our client’s ability to demonstrate that she knew what she was doing with well thought out contingency plans and the security of plenty of equity and a good credit rating.
“Commercial funding secured on the HMO is expected to come through during the next month or so, at which point our account will be cleared within the agreed timeframe leaving us with a happy client and broker relationship.”
HFBS were able to process the loan with no solicitor involvement, no minimum valuation and, thanks to the lender being privately funded, no bank mandates or fixed rules.
The lender claims to offer the lowest second mortgage rates in the bridging finance market at 0.95% a month on advances of £50,000.
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