Location:
Central London
Gross Loan Amount:
£1,800,000
Property Value:
£3,000,000
Initial Circumstances
An existing client approached us for short term funding to discharge their existing first charge lender and raise additional funds for Investment purposes. The properties offered as security were situated in a prime location generating a strong income.
MFS Solutions
MFS quickly issued terms for a bridging loans to meet the client’s needs at a competitive rate. To speed up the process MFS instructed a valuer to complete report within 24 hours on both sites, whilst engaging with solicitors to start the legal process simultaneously. MFS were able to complete the transaction before the anticipated completion date needed by the client. The exit strategy was long term refinancing.
The Benefits
MFS charges no penalty for early repayment, which will allow the client to redeem the loan as soon as their long-term refinance completes. Client had more time to shop around for a better long-term product, restructure their finances to a more manageable way.
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: Commercial property tax guide – what taxes do investors need to pay and what are the allowances?
- Blog: What is the minimum EPC rating for commercial property?
