Case Studies – Overseas
Residential acquisition whilst in lockdown
- Location South London
- Loan amount £500,00
- Property value £715,000
They were set a final deadline by the developer to complete, which was extremely stressful for them as there was a risk that they could lose their deposit
The long-term lender was not able to complete in time.
We are still doing valuations on site and not via Desktop – this was actioned within days, ensuring that all social distancing guidelines were adhered to.
Lawyers were on hand and working from home to ensure all was completed smoothly, with documents being signed and delivered swiftly.
The deal was completed in less than a week and the client was very much satisfied, as well as relieved that the deadline was met so fast & in such a professional manner.
Exit will be through a traditional long-term lender.
Short Term Funding for Business Purposes, Lending to a BVI Company on an Investment Property in the South West
UBOs reside offshore
No Penalty for Early Repayment
Gross Loan Amount: £250,000
Market Value: £500,000
LTV: 50 %
To ensure MFS were able to meet the client’s deadline we organised a valuer from our panel of surveyors to value the property the next day and provide a report 48 hours later.
This was further quickened by the additional support of our solicitors and expertise in dealing with offshore structures. The exit strategy was the sale of another investment property within the client’s portfolio.