The borrower was securing a long-term facility with another lender but it required full valuation — which could not be completed in time — so a bridging loan was required.

The lender provided the loan at 9% LTV and audited the valuation internally — removing the need for a new valuation.

The exit plan is to move the funds onto a commercial term loan with another provider.
MS Lending worked with PropCap Consultancy to complete the case.

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Rob Goodall, managing director at MS Lending, said: "Circumstances meant a valuation would have taken too long and the funds were required imminently.

“We are really pleased to have been able to help our client efficiently."

The lender recently launched their latest MSXC product which promises to instruct the same day as the enquiry and complete within 14 days.