Property acquisition in London

Property acquisition in London

Gross Loan Amount:

£250,000

Property Value:

£360,000

LTV:

70%

Initial Circumstance

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.

MFS Solution

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.

The Benefits

Client was pleased as had acquired a magnificent property at a very competitive price. Thanks to our fast bridging loans, they didn’t lose their deposit and were left with zero risk of penalty costs.

 

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