Gross Loan Amount:
£1,125,000
Property Value:
£1,500,000
LTV:
75%
Initial Circumstances
One our existing clients returned to use our services, as they were looking to invest in a piece of Prime London property. As the first stamp duty holiday deadline was fast approaching, the client felt under pressure to complete to ensure they didn’t lose out on their investment opportunity by being gazumped. They required a large bridging loan that needed to complete within two weeks.
MFS Solutions
Upon receiving the client’s case, our underwriting team got to work immediately so we could release the funds as quickly as possible.
Utilising our valuation panel, we were able to get a valuer to the property within 24 hours. We then received the report in less than 3 days. Due to our close relationship with our panel however, we were able to receive the figures over the phone initially. This enabled us to instruct solicitors, without having to wait for the physical copy to arrive first, ultimately saving time for our client.
The Benefits
Having worked with us before, the client knew that they would be kept up to date at each stage of the process. We also got their funds to them on time, so they were extremely satisfied, as usual.
Further reading:
- Featured Product: Residential & Buy-to-Let Bridging Loan
- Explainer Video: Buy-to-Let Bridging Loans
- Tool: Bridging Loan Calculator
- Report: Gazumped Britain III: Uncovering the Challenges Facing Homebuyers
- Blog: 21 Reasons to invest in real estate
- Blog: What is a bridging loan secured against? – A brief overview for investors
