MS Lending Group completes £4.6m loan on a 50 property portfolio in three weeks

By Bridging Loan Directory 27th June 2024

MS Lending Group has completed a £4.6m loan on a 50 property portfolio in three weeks.

The clients, who are direct customers of MS Lending Group, approached the lender with an opportunity to purchase the portfolio in the Midlands below market value but needed to move quickly.

MSLG was able to secure funds using solely AVM’s (no physical valuations) alongside a physical walk-around of all properties.

The customers are well known to MS Lending Group and are prominent property investors, who operate in the private landlord sector as well as the social housing space.

The properties purchased by the client were a mixture of mid-terrace, end-terrace, and semi-detached houses ranging from one to five bedrooms.

Speed was of the essence due to tight deadlines with the scrapping of MDR (multiple dwelling relief) at the end of June, saving them over £200k in tax.

Michael Stratton, CEO, MS Lending said:

‘We were proud to work with our longstanding clients to resolve this transaction.

We demonstrated our unique offering by completing a loan of this size without the need for a full RICS valuation, using our common sense approach, and visiting the properties personally.

We understood the tight timescales needed and were glad the clients chose MS Lending as their trusted partner to ensure everything happened as it should.

I’m also extremely proud of our team, individually underwriting each property in addition to our busiest month on record for the business”.