MFS completes bridging loans for two auction purchases
Paresh Raja

MFS completes bridging loans for two auction purchases

Market Financial Solutions (MFS) has arranged two bridging loans for clients who bought properties at auction.

In the first instance, the finance provider delivered a £120,000 bridging loan for a client who was at risk of missing the payment deadline.

The loan — which had an LTV of 39% — was issued within four days of receiving the enquiry.

The second deal completed was a £360,000 loan with a 70% LTV for a £515,000 property.

Both clients received loans under MFS’ new bridging rates.

Paresh Raja, CEO at MFS (pictured above), said: “We have seen a noticeable spike in the number of prospective homebuyers looking to purchase properties at auctions in recent years.  

“Given the speed and flexibility of bridging finance, MFS regularly receives enquiries from brokers asking how their clients could use our loans to successfully complete on a property purchase at auction. 

“Both these cases demonstrate our expertise in delivering finance within the strict deadlines experienced for auction buyers.”

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