mfs and arc & co

MFS and Arc & Co close £12.3m bridging deal

MFS and Arc & Co have completed a £12.3m bridging loan for a commercial property with planning consent for its conversion to residential in Greater London.

The facility — agreed at 70% LTV on a 12-month term — was used to refinance the client’s existing debt and provide additional time to enable the sale of the property.

Edward Horn-Smith, managing director at Arc & Co (pictured above), said: “After a short tender process, we sought MFS as the best suited counter party, which executed on the terms agreed from the offset.”

Imogen Williams, regional sales manager at MFS, commented: “Arc & Co discussed a proposition with us that had huge potential and a thorough briefing. 

“After reviewing the information and agreeing the deal at credit, we then worked with Ed and the team to get it over the line as swiftly as possible. 

“Elements of the deal changed within the term through no fault of anyone involved, but we decided to honour our all our agreements from the start of the transaction.”

Richard D’Souza, underwriting manager at MFS, added: “The logistics of the case can change during the process — when this happens, transparency and clear communication from both sides is essential to avoid confusion and ensure the process continues smoothly. 

“We worked closely with Arc & Co on this case to ensure its client was kept informed and updated, as well as working quickly to ensure they received the funds they needed.”

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