Loans Amount:
£4,400,000
LTV:
44%
Initial Circumstances
One of our returning brokers had a high-net worth client needing fast finance to meet a tight deadline. The client was looking to raise capital for a new commercial investment. The asset was based in Central London.
The client has vast experience within the commercial market. They had two, neighbouring, large offices to use as their security, both situated within the same area. By securing the loan against both assets, it enabled us to provide a bridging loan with a relatively low Loan-To-Value rate. Paired with the client’s vast experience, we felt very comfortable taking on the case – even with the large loan size required.
MFS Solutions
With the property being a commercial asset, the dedicated MFS underwriter assigned to the case worked swiftly. Being an office building, our underwriter set to work reviewing the leases in place.
Using our vast panel of valuers, we were able to get one of our panels round to the property quickly. Due to the tight deadline, were able to speak with our valuer to ensure we could receive the report promptly. Despite the size of the assets, the valuer was able to send through the valuation report covering both commercial properties within five working days.
Benefits
Due to our diverse panel, we were able to find a valuer that would be able to conduct the valuation within our client’s timescale. Our long-standing relationship means that on occasions where speed is vital, we can trust our partners to complete by our restricted timescales.
Having access to several funding lines also allows us to provide large scale bridging loans with speed and certainty. With MFS, our large bridging loans work in the same timeframe as our other bridging products. You can read more about our large bridging loans here.
Further reading:
- Featured Product: Commercial & Semi-Commercial Bridging Loans
- Explainer Video: Commercial Bridging Loans
- Tool: Bridging Loan Calculator
- Report: The post-pandemic outlook of the UK commercial property market
- Blog: The effect of covid on the property market
- Blog: Commercial property tax guide – what taxes do investors need to pay and what are the allowances?
