Short term bridging loan for first BTL investment

BTL investment

Gross Loan Amount:

£485,000

Property Value:

£650,000

Charge:

1st Charge

Initial Circumstances

A broker got in touch with us who had a two clients (married couple) looking to purchase their first investment buy to let property. Interestingly, before coming to us the borrowers had missed out on another BTL property as their mortgage offer took too long.

MFS Solution

After the borrowers lost out they changed tactics and decided to use bridging finance and essentially become cash buyers. This allowed them to look at a property that needed modernisation as not all BTL lenders will allow you to buy properties that need renovating. Here at MFS, we examine each case on its merits, in order to offer a tailored, bespoke loan solution.

The Benefits

This clients already having terms from us were able to have their offer accepted and within a few weeks (even with the seller being in Australia and getting documents couriered during a global pandemic) we completed the transaction.

The borrower was ecstatic.

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Our Calculators:

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Bridging Loan Calculator

Calculate the loan amount you may be able to apply for and the interest payment options available to you.

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Buy-To-Let Mortgage Calculator

Use the calculator to understand which product tier best matches your BTL requirements.

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Contact us

Speak to us on the phone, via chat or email about your case, however complex it might be. We have a friendly, dedicated team and one of our underwriters will be happy to help you with your enquiry. We will always try to lend, and when we say yes – we mean it

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