Gross Loan Amount:
A client approached us for a short-term bridging loan to discharge their existing first charge lender and raise additional funds for investment purposes. The property offered as security was a fantastic commercial site generating a strong rental income.
To meet the client’s needs, MFS worked in a flexible manner and offered bespoke, favorable terms tailored to meet individual requirements. By instructing a valuer to complete the report within 24 hours and to speed up the process we engaged our solicitors to start the legal process simultaneously.
MFS was able to complete the transaction before the anticipated completion date needed by the client. The exit strategy was long term refinancing.
The client saved a lot of money as they didn’t default on any repayment date and were able to redeem the loan early without any penalty charges.