Case Studies – Auction Finance
Short Term Funding Needed for Investment Property Acquisition in East London
No Penalty for Early Repayment
Gross Loan Amount: £250,000
Market Value: £360,000
Client required funds fast for the acquisition of a Buy To Let property. They had paid a deposit, were struggling to find suitable finance within the time constraints and there was a risk of losing the property to higher bidders
To avoid losing the property, MFS selected the valuer with the earliest availability. With the additional support of our solicitors, we were able to meet the deadline and make sure the client did not lose their deposit. The exit strategy was through long term refinancing once the property was acquired.
Client was pleased as had acquired a magnificent property at a very competitive price. They didn’t lose their deposit and were left with zero risk of penalty costs.
Short Term Funding to Acquire a New Build Investment Property in East London
Gross Loan Amount: £550,000
Market Value: £800,000
An existing broker introduced a client that required funds within 14 Days to complete the purchase of a new Investment property, for which the client had already put down a deposit. The client’s traditional lender took longer than anticipated leading to a delay in completion, which meant that speed was essential.
To meet the client’s deadline, Market Financial Solutions ensured a valuer from our panel of surveyors were able to value the property the next day with the report to follow within 48 hours. In addition, we engaged our solicitors simultaneously and were able to meet the client’s deadline, ensuring the client did not lose their deposit. The exit strategy was through long term refinancing.
Client did not lose their property or their deposit. They also did not have the added pressure of early repayment.