Market Financial Solutions (MFS) has completed a £4.5 million bridging loan within four days.
The multi-million pound loan was used to complete on a prime central London property located in Kensington. The property had a market value of £6 million, meaning the bridging deal was delivered at a loan to value (LTV) of 75%.
The borrower – a repeat client for MFS – is a high net worth (HNW) investor who purchased the prime property to expand his existing real estate portfolio.
MFS instructed a valuer to complete a report on the property the same day as receiving the enquiry. The valuation report was returned the next day while fast-acting solicitors were engaged immediately, enabling the deal to be completed within four days. It was agreed that the exit to the loan would come through a long-term refinancing plan.
Paresh Raja (pictured), CEO of MFS, said: “Fast access to finance is of huge importance for most HNWs looking to capitalise on highly sought after property investment opportunities. This case highlights MFS’ ability to provide bespoke bridging loans with speed and diligence, ensuring clients get the support they need and do not miss out on a property.
“Amidst the political and economic uncertainty emanating from the on-going Brexit saga, we are speaking with many property investors who have experienced lenders pulling out of deals halfway through. But at MFS, yes means yes – thanks to the strength of our funding lines and the expertise of our growing team, we can handle even the most complicated enquiries and deliver tailored loans that meet the needs of each individual borrower.”