The news comes after MFS recently revealed it had funded £13m worth of loans in March as it recorded its busiest ever month.
The bridging lender helped the client who had an option to buy two neighbouring cottages next to an investment property he already owned in St Albans.
The total market value of the property was £6m, but the client needed £3.3m to acquire the two cottages and to redeem the existing lender on the property he already owned.
The added complexity came as the client was eager to complete the acquisition before the new stamp-duty rules came into force on 1st April.
After being happy with MFS’s rates as well as the service offered by the lender, the deal was completed before the deadline.
This was in spite of the Easter break and dealing with surveyors and lawyers when they were busy during the period.
As a result, the client now owns the main house as well as the two cottages giving him over 80 acres of land.
The deal also has increased the value of the client’s portfolio significantly as he now has the rights of access to all three properties.
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