£3 million short term funding required to discharge outstanding debt against multiple properties in Central London
By Bridging Loan Directory -
Gross Loan Amount: £3,000,000
Combined Market Value: £5,000,000
A new broker who had heard of MFS through word of mouth approached them requesting short term refinancing to discharge their existing debt against multiple Investment properties. With only a short period time before their existing loan redeems, MFS immediately issued terms to the clients. The client had already sourced an indicative offer from a long-term refinance lender, meaning MFS was more than happy to fund the clients and meet their needs. The client was extremely pleased with the structure of the offer to generate the maximum loan amount and at a competitive rate. MFS instructed a valuer from their trusted panel to go and inspect both properties on the same day. Once the valuation was conducted they immediately instructed their solicitors as the deadline was fast approaching. The client was extremely pleased with the fact that MFS was able to conclude the matter and offer a fast and effective solution. The exit was through long term refinancing.
Paresh Raja, pictured, CEO, Market Financial Solutions said:
“Getting brokers through word of mouth is the best way to do bridging and by having in house funds means that we can assist promptly no matter how big or small the loan is – it is great to be able to support our clients.“