MFS issues £500,000 bridging loan amid lockdown

Market Financial Solutions (MFS) has deployed a £500,000 bridging loan to help a client complete on a property transaction in South London.

The client is based in northern Italy and was in the final stages of buying a house in South London.

MFS organised an onsite valuation of the property, ensuring social distancing guidelines were adhered to. 

The lender’s legal team was able to arrange and complete the necessary legal documents to facilitate the loan.

With the client’s property valued at £715,000, MFS issued a £500,000 loan within less than a week of receiving the enquiry. 

The borrower completed the purchase before the deadline. 

Paresh Raja, CEO at MFS, said: “While many lenders are retreating from the market, MFS is here to ensure property buyers are able to complete on transactions. 

“As this case shows, we are one of only a few lenders that is still undertaking on-site valuations and are committed to delivering loans within days of receiving an application.

“With access to in-house credit lines and an experienced team on hand to address enquiries, MFS remains in a strong position to deliver bespoke bridging loans quickly.” 

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