Holme Finance cuts low-rate advances in wake of Brexit

The lender dropped the minimum advance offered on its 0.95% rate from £100,000 to £50,000 and increased the maximum loan available on its standard terms from £200,000 to £250,000.

It said it wanted to show support to small business owners in the wake of June’s Brexit vote, when other lenders “are pulling their lending”.

It has been suggested bridging and re-bridging could suffer following the UK’s decision to leave the EU on 23 June, however, a recent round-up of broker sentiment indicated the market was intent on continuing as before.

HFBS director Ian Broadbent 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 works with privately funded capital, which gives it authority on its lending. The firm works with a small panel of intermediaries and prides itself on its average completion time of less than seven days, from enquiry to money in the bank.

It said its aim was to fill a niche in the market, whereby it would focus on completing “the more straight forward application” which does not need solicitor involvement.