The 12-month loan at 1.35% pcm was secured as a second legal mortgage over a BTL with an estimated valuation of £700,000 and first charge mortgage balance of £225,000.
The funds allowed the introducer’s client to settle the urgent payment of a tax bill.
Ian Broadbent, director at HFBS (pictured above), said it was approached by a broker from First 4 Commercial with an initial enquiry very late on 16th October, at which point it provided immediate terms.
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“The following day we received confirmation and the necessary approvals that the client was keen to progress with the bridging loan, we immediately requested the settlement figure from the first mortgagee with funds transferred to the client first thing on 23rd October.”
Chris Warner, commercial mortgage broker at First 4 Commercial, added: “I cannot speak highly enough of the guys over at HFBS.
“This case in particular has taken three working days from initial enquiry to funds in the clients account.
“Fast, effective bridging whenever my clients need it.”