Gross Loan Amount:
£860,000
Property Value:
£1,250,000
LTV:
68%
Initial Circumstances
An existing client was looking to raise funds through a bridging loan to purchase against a combined value of three properties. Our client’s highly experienced and was looking use their own funds to develop the properties, which would significantly increase the overall value.
MFS Solution
To ensure MFS were able to meet the deadline we ensured a valuer from our panel of surveyors were able to value all three properties the next day with reports to follow 48 hours later. With the additional support of our solicitors, we were able to meet the deadline and make sure the client did not miss their deadline. The exit strategy was through long term refinancing.
The Benefits
Client developed the property to a high spec without the added pressure of finance and were able to easily secure long-term finance and enhance value of their property.
Further reading:
- Featured Product: Residential & Buy-to-Let Bridging Loan
- Explainer Video: Buy-to-Let 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: The benefits of buy-to-let: what investors need to know and is BTL still worth it?
