Bridging lender relaxes second charge criteria

Holme Finance Bridging Solutions (HFBS) has relaxed its lending criteria in the wake of Brexit.

The specialist lender previously offered a second charge rate of 0.95% a month but only on advances over £100,000, however, this has now been lowered to just £50,000.

HFBS also increased the maximum loan available on standard terms from £200,000 to £250,000.

Ian Broadbent, director at HFBS, said: “The appetite for investment is still strong post-Brexit.

“We’re not pulling our funding, in fact we’re retaining terms and improving them to continue to support the smaller entrepreneur.

“If you are genuinely looking for a lender not reliant on the whims of institutional lending, flexible and hungry, look no further.”

HFBS prides itself on straightforward lending, boasting an average completion time of less than seven days from inquiry to money in the bank.

The firm does not rely on solicitors or require a minimum valuation, and is entirely privately funded.

Last month, HFBS rescued a property developer who was at risk of missing a schedule of works.

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