Bridging Loan Criteria

No admin fees.

The underwriter can consider cases with BKO/IVA/DRO/Previous Repossession/recent CCJs or mortgage arrears on their merits. All adverse and CCJs, excluding small unsecured blips, must be cleared at completion – MFS funds can be used. Require explanation of exit strategy, current stability, and credit committee approval (usually under 48hrs). Pay day loans considered if infrequent, historic and cleared.

21 to max 75. Over 75’s by referral with legal advice to confirm advanced aptitude.

• Individuals
• Self-employed
• Limited Companies
• LLPs
• SPVs
• Foreign Nationals
• Offshore Companies
• Trusts
• PEP
• Adverse and impaired credit of any size
• Retired

Contact MFS via the live chat on our website, call +44(0)20 7060 1234 or email info@mfsuk.com to start the process.

From 1%.

We accept auction purchases and are able to provide funds in as little as 3 days.

Yes, as long as less than 40% is for personal reasons.

First charge and second charge.

Yes, we offer bridging for commercial properties.

Commitment fees are refunded on draw-down of the loan.

Bridging loan criteria for construction: the usual acceptable brick/tile. No structurally repaired/PRC, deleterious materials or with built-in obsolescence (finite lifespan). Refer listed properties. Modern Methods of Construction considered by referral with surveyor opinion and readily saleable.

SPVs setup specifically to hold/operate BTL properties, or relevant Trading Companies or LLPs are acceptable. Up to 4 directors, who combined own at least 75% of the SPV between them. Shareholders under 18 or hold < 20% are not underwritten. Debenture incorporating fixed & floating charge required to keep MFS informed of any future changes.

Allowed, as long as they meet our max. adverse credit criteria.

We can consider properties with an EPC rating of E and above.

Loans are a minimum of 3 months, following this period, there are no ERCs.

Valuation to reflect property (e.g. high rise, balcony access), EWS1 fire risk, and saleability. No pre-emption title restriction.

Exit fees are discussed with the client at the front end and is based on individual loan circumstances.

Multiple viable exit routes considered.

Commitment fee (paid back when the loan is drawn down)

Fixed rates are offered on our bridging loan products.

As part of our bridging loan criteria, the flat must have a minimum 30sqm gross internal area on flats section.

Enhanced due diligence and history in both UK and abroad required if limited UK records (property, current accounts, credit etc); we reserve the right to restrict LTV, term, loan size. Can be working or retired. Proof of overseas and UK addresses (if relevant) required. Country of residence can be worldwide if not sanctioned or on the FATF blacklist. UK bank account required for direct debit.

£100k min, £50m max. dependent on product. Product fee, rolled up interest, & optional broker fees will reduce the net advance. Gross loan is repaid at redemption.

Required from all directors and major shareholders to cover 100% of the loan. N/A for individual apps.

Acceptable. Must have relevant planning in place and have a licence.

Acceptable.

A minimum ICR is not required for bridging loans.

We require proof of ID, including a passport, and a proof of address such as a utility bill. A full list of acceptable ID will be provided when the loan is being underwritten.

None required.

We have the following options available:

• Fully retained
• Part retained & serviced monthly
• Serviced monthly

Leasehold is acceptable within our bridging loan criteria. Minimum unexpired lease of 40 years.

Quotes provided on application.

Limited & trading companies incl. SPVs.

Acceptable.

Purchase or remortgage, including capital raising if 60% or more is for business purposes.

Properties in mainland England and Wales considered.

Max. LTV dependent on product. 1^st charge: 75%, 2^nd charge: 70%. LTV is based on 180 day Value (Open Market Value will be considered on a case-by-base basis).

Acceptable.

We lend to borrowers from anywhere in the world other than a sanctioned/blacklisted country, including:

• Expats
• Foreign Nationals
• Offshore Companies
• Offshore Trusts

Acceptable.

Satisfactory planning, new build warranty and building regulation sign off required. No outstanding S106 / CIL obligations.

Isle of Man, Channel Islands, British Virgin Islands, Gibraltar, or EU as standard. Considered outside this list subject to underwriter/credit committee and enhanced due diligence between solicitors in UK and offshore about structure, solvency, director/shareholder details, and enforceability. All loans subject to England & Wales law. UK bank account required for direct debit.

Acceptable.

Considered by referral. Based on the nature of current/previous role and exposures. May require guarantees.

Appropriate planning required.

Property portfolios are accepted as part of our bridging loan criteria.

Residential, semi-commercial and commercial.

We currently do not provide regulated bridging.

Rolled up, serviced, or part serviced accepted. Payments by Direct Debit from a UK bank account.

Roll-up payments are accepted.

Self-employed considered. Age: 21+. If 1^st-time landlord or FTB: min. income £30k.

SPVs are eligible for bridging loans. Up to 4 directors, who combined own at least 75% of the SPV between them. Shareholders under 18 or hold < 20% are not underwritten. Debenture incorporating fixed & floating charge required to keep MFS informed of any future changes.

Agreement must be in writing, joint tenants have joint and several liability, and all adult occupants on the agreement. Corporate lets, ASTs 6-36 months, and DSS tenants acceptable.

Min. 3 months to max. 21 and 24 months, respectively, depending on the product.

First 3 months of the loan are fixed.

Any changes to BBR applied from 1st of the following month. If the interest is rolled up then the borrower will need to service the interest monthly in the event of a rate increase.

Onshore or Offshore acceptable subject to trust deeds, setup/structure, personal guarantees from owners, and due diligence.

• Standard on residential remortgages up to £1m gross loan. Also used on internal refinances (borrower already with MFS).
• Bridge & BTL, on eligible nationalities, and can be very recently built.
• UK individual or passport holder in EEA, Channel Islands, Switzerland, USA, Canada, Australia, or New Zealand.
• Corporate borrowers, Trusts and partnerships incorporated in UK, EEA, Channel Islands, Switzerland, or British Virgin Islands also eligible. Ultimate Beneficial Owners must also meet the individual countries/passports eligibility criteria.
• Cost: 0.13% of gross loan (min £350), plus IPT (currently 12% of premium). Paid by the borrower. Solicitor deducts from loan advance at completion.

Yes, we offer unregulated bridging loans.