MS Lending Group funds record £7.6m deal in less than 10 days
MS Lending Group has funded a record breaking £7.6m deal in Adlington, Cheshire.
Completing only two days before Christmas, the deal is the largest ever transaction for the company.
The borrower had an existing facility with another lender who had a charge over two adjacent sites: a completed 45,000 sq ft industrial unit and the other with planning for 75,000 sq ft unit but the client’s existing lender was unable to commit further funds.
The site, located just 15 miles from MS Lending Group’s office, enabled the team to visit and agree the terms the same day.
A full valuation was carried out and the deal was completed in less than 10 days.
Rob Goodall, Managing Director, MS Lending Group said:
“It was a pleasure to complete this deal, not only because I have personally known the customer for over 20 years, but after being let down by his existing lender, we helped enable him to move forward and fully develop a prime site in Cheshire.
The client appreciated the fact that we did what we said we were going to do and in the requested short timescales too.”
MS Lending Group who pride themselves on speed and flexibility in the bridging market enabled the funding to complete quickly, the existing lender to be redeemed, whilst also allowing the borrower to progress with the build in 2023.
The news comes off the back of a very successful year for the company completing over £80m in 2022 alone.
Michael Stratton, CEO, MS Lending Group added:
“Although a large transaction this case exemplifies everything that we’re about and want to be known for at MS Lending Group.
Speed, flexibility and guaranteeing our customers that when we say we will get something done we do just that!”