MS Lending Group closes £4m bridging loan in six days
By Beth FisherHNW client secures fast funding for business opportunity against country home
Section: Case Studies
MS Lending Group has completed a £4m bridging loan six days after receiving the property valuation.
The client, who had a property portfolio worth close to £20m, was looking to capitalise on a "significant" business opportunity.
The specialist lender secured the 40% LTV facility against a property valued at £10m in the North West, by way of a third-party first legal charge.
The property valuation arrived on Friday 21st August and, on Monday 24th August, the finance provider issued its offer and instructed solicitors.
Our brokers know we'll turn things around fast when the deal makes sense, and that's part of why they bring us their best clients.
The loan completed in less than one week, on Friday 27th August.
The borrower plans to repay the loan through business capital generated within the loan's term time.
The strength of the client's personal finances and property holdings are said to also provide alternative repayment options if needed.
"This deal came to us through a broker partner we work closely with," said Michael Stratton, CEO & founder of MS Lending Group.
"What made the difference was the quality of the client and the fundamentals of the proposition.
"The client is an experienced operator with strong cash reserves, reasonable debt levels, and a clear plan to deploy the funds.
"We knew quickly that we were comfortable with it, and that's when you can move at pace.
Keywords: MS Lending Group, bridging loan, £4m bridging loan, bridging finance, specialist finance, specialist lender, property finance, short-term finance, fast bridging loan, six-day completion, rapid completion, property valuation