Large bridging loans are for those bigger projects and opportunities, whether it be prime luxury property, portfolios of properties, or large commercial premises.
Try the MFS bridging calculator to estimate the amount you can borrow, interest and other costs. Just enter the market value of your property, any outstanding mortgage, the amount you’d like to borrow and the months you’d need the money for. The calculator is easy to use and you get instant results.
Large bridging loans are loans of at least £4m that can be used for a range of different property types in England and Wales.
These can include:
The loan is often used to purchase high value single assets, such as a prime London dwelling, or a portfolio of lower value properties. It gives clients more flexibility to be able to ‘bridge the gap’ on larger opportunities, so they can continue with new purchases whilst waiting for other assets to sell, or arranging long term finance.
Loans between £4m and £50m are considered large bridging finance. However, from MFS a client can borrow from as little as £100k if they wish. It is all dependent on the amount the client needs, and the value the asset that they are lending against. At MFS, we lend up to 75% of the property value, otherwise known as 75% Loan to Value (LTV).
Large bridging finance can be used when a borrower wants to take advantage of a new opportunity with a loan value of over £4m. A borrower can utilise the loan to buy portfolios of properties, buy large single assets such as luxury city centre property, or exit a large Development Finance facility to name just a few scenarios.
A borrower can purchase various types of property located in Wales & England with a large bridging loan. This can include luxury flats in prime locations, to large country houses spanning acres. They can also be utilised for different property uses, such as residential buy-to-let properties, to large shopping centres or hotels.
The range of property types that are acceptable are vast, so we recommend contacting our Underwriting team to discuss your requirements.
The benefit of high-value bridging finance is the ability to utilise it for those larger and more complicated purchases quickly, without the red tape of the high street banks. This allows for opportunities to be seized more quickly to ensure they’re not missed out on, and additional breathing space to put those more traditional finance facilities into place.
Furthermore, for portfolios, or blocks of flats, where there may be multiple units in play, the transaction can be completed as one loan, as opposed to lots of smaller loans. This simplifies the process for all parties.
Almost everyone that wants to invest in UK property will be eligible for high-value bridging finance, however for large bridging loans specifically, the property(s) which the borrower wants to utilise as security must have a value of at least £5.4m.
They are available for:
At MFS we can work as quickly as the client can, with funds being available within 3 days in some cases. We also have a 4-hour turnaround time to respond to enquiries, meaning that you can be sure that someone will come back to you and you won’t be left in the dark. If a client is working to a certain date, we will work with our solicitors to ensure their deadlines are met from our side.
We do not charge any early repayment charges on any of our loans, although we do have a minimum loan term of 3 months. We do charge a commitment fee on our loans; however, this is refunded when the loan is drawn down. It simply just shows the borrowers commitment to completing high-value bridging finance with us. We also charge an arrangement fee which starts from 1% of the gross loan amount, this will be communicated to the borrower early on in the process so that it is clear.
The only difference between our large bridging finance, and our other loans is purely the loan size. The underwriting process, documentation required, and the speed of which we can get the deal done remain the same. Similar to our other loans, borrowers are also able to make the right decision regarding interest payments to suit their individual circumstances.
Depending on your case, we will ask you for certain paperwork. These include:
Some additional documents might be required. However, our underwriter will give you more detailed information specifically for your case.
The first step will be to discuss your potential case with one of our underwriters, or BDM team. Just go to our contact page to find the best way to communicate for you – whether it be phone, email, scheduling a call back, or starting a live chat.
Get in touch via phone, chat or email about your query, however complex it might be. We will try our best to say yes to you, instead of finding a reason to say no.
Email: info@mfsuk.com
Phone: +44 (0)20 7060 1234
Email: brokers@mfsuk.com
Phone: +44 (0)20 7060 1234
