Loan Amount:
£1,305,000
Property Value:
£1,755,000
LTV:
74%
Initial Circumstance
We received an enquiry from a high net-worth individual. They had a buy-to-let portfolio that they were looking to increase. They had found a property in Prime Central London and needed fast and reliable finance to secure the asset. Having used our services before, they knew they could rely on us to provide a flexible and bespoke bridging loan that would be able to meet their required deadline.
MFS Solutions
With the property market moving at such a fast pace the client was looking to move swiftly. Having previously worked with the borrower, the dedicated underwriter was able to move quickly – ensuring all previous details were updated and correct. We wanted to ensure the borrower was not left in position in which they could be gazumped.
Due to our extensive panel, we were able to find a valuer who could conduct a valuation of the property within days of our enquiry. Our panel understand that for us and our clients, time is always a key factor. We were able to receive the valuation report with five days.
From here, we worked alongside the client to finalise the bridging process and release funds. Overall, we were able to complete in 2 weeks – leaving the borrower incredibly satisfied with our bespoke service.
Benefits
We often work with UK borrowers who are looking to grow their property portfolio and understand their need for speed. That’s why we underwrite from day one. This allowed us to provide reliable indicative terms upfront, as well as ensuring that we could confidently accept the enquiry and supply the funds; without wasting either or time or the borrowers. We can therefore be upfront and transparent from the start and throughout the whole of the bridging process.
Minimising stress for our client is crucial. That’s why all our cases receive a dedicated underwriter who liaise directly with the client, solicitors, and valuers. All documentation is completed in a prompt and timely manner, so that our clients can meet their deadlines.
Further reading:
- Featured Product: Residential & Buy-to-Let Bridging Loan
- Explainer Video: Buy-to-Let Bridging Loans
- Tool: Bridging Loan Calculator
- Report: Gazumped BritainIII: Uncovering the Challenges Facing Homebuyers
- Blog: 21 Reasons to invest in real estate
- Blog: 17 Questions buy-to-let landlords should ask themselves as rental demand rises
