Gross Loan Amount:
£250,000
Property Value:
£500,000
LTV:
50 %
Initial Circumstance
A new broker contacted us after struggling to find a bridging loan for business purposes for his offshore client.
MFS Solution
Our client had a UK investment property, hence why a bridging facility with a clear exit strategy and low LTV made sense.
To ensure MFS were able to meet the client’s deadline we organised a valuer from our panel of surveyors to value the property the next day and provide a report 48 hours later.
This was further quickened by the additional support of our solicitors and expertise in dealing with offshore structures. The exit strategy was the sale of another investment property within the client’s portfolio.
The Benefits
The deadline was met for our client’s business purposes as well as the broker being able to assist his client efficiently – saving him further costs in the long term. Win, win!
Further reading:
- Featured Product: Foreign Nationals & Overseas Bridging Loans
- Explainer Video: Overseas Bridging Loans
- Tool: Bridging Loan Calculator
- Guide: Guide to Buy-to-Let
- Blog: 17 Questions buy-to-let landlords should ask themselves as rental demand rises
- Blog: 21 Reasons to invest in real estate
