Short Term Funding for Business Purposes, Lending to a BVI Company on an Investment Property in the South West
Gross Loan Amount: £250,000
Market Value: £500,000
LTV: 50 %
No Penalty for Early Repayment
UBO’s Reside Offshore
A new broker contacted us after struggling to find bridging funds for business purposes for his offshore client.
Our client had a UK investment property, hence why a bridging facility with a clear exit strategy and low LTV made sense.
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.
The deadline was met for our client’s business purposes as well as the broker being able to assist his client efficiently – saving him further costs in the long term. Win, win!