Complicated bridging case, completed with care and confidence

complicated case completed care confidence

Loan Amount:

Property Value:


Initial Circumstance

A new borrower approached MFS, looking for a bridging loan. The client was looking to expand their current property portfolio and purchase a new asset in the West Midlands. However, the property in question needed renovation work. The client was looking to convert the building into a small HMO. Due to the borrower’s vast experience and contacts within the market, they were looking to do the works themselves. With the client having over twenty-five years of industry experience, we were more than happy to take on the case.

They were hoping to increase the property’s value overall so that upon refinancing to exit our bridge, they would have enough equity to purchase another asset. Time was of the essence for these expansion plans, with a four-week deadline looming.

MFS Solutions

Roger Taylor, our dedicated underwriter assigned to the borrower, got the ball rolling quickly. We accepted a statement of works for the costings, due to the clients experience and industry connections. Our underwriter had to adapt as valuation delays emerged. To ensure we would hit the deadline, we took it upon ourselves to switch valuer.

Upon receiving the valuation report, the property came back valued at a lower amount than expected. To keep the deal from falling through, our underwriter was able to increase the LTV and readjust the loan accordingly.

As we underwrite from day one, we came across some historic adverse information early on that was relevant to the case. We sought legal advice regarding the best way to move forward. We were able to work with the solicitors to ensure all parties were comfortable and overcome the issue regarding pre-existing debt. With full confidence, the underwriter was able to help the borrower complete their purchase and start their renovation works.

Their exit strategy was through securing long-term finance, with the intent to let.


Unexpected delays can derail financing plans, with valuations being notoriously tricky. As spanners are thrown in the works, it’s important to react quickly to keep the machine running. Throughout this case, our underwriter was up against tight deadlines but despite the difficulties – foreseen or not – we adapted to help the borrower.

Providing flexible service and industry expertise once again proved invaluable. Being delighted with our service and dedication, they have already approached us once again for help with their next investment purchase.

Interested in learning more?

In the current climate, there’s plenty of scope for converting:

  • Commercial property into residential assets
  • Buy-to-lets into HMOs

Download our Guide to Bridging and Buy-To-Let or our Guide to HMOs to find out more about what these properties entail.

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