Acquiring Prime Central London property, with speed and transparency from the offset

Prime Central London property header image

Loan Amount:
£1,275,000

Property Value:
£1,700,000

LTV:
75%

Initial Circumstance

We recently received an enquiry heard back from a returning client who was looking to invest in a piece of Prime Central London real estate. As a keen property investor, the borrower was looking to acquire the residential asset to expand their property portfolio. Looking to utilise their current properties to secure a loan, the client needed a bridging lender who would move quickly and provide rate that they could trust to remain fixed throughout the whole bridging term.

The client was looking to completely swiftly, due to the competitive nature of the market. Having worked with us previously, they knew we would be able to help.

MFS Solutions

Having previously used our services, the borrower was familiar with our process. We were able to find a valuer among our valuation panel, who was able to supply a valuation report within five days. This kept us in line with our clients’ schedule and expectations.

The dedicated underwriter worked closely with the client. Our team were consistently on hand to minimise any stress for the borrower. The MFS team supported the completion of paperwork, liaising with solicitors and keeping the client informed and updated from the offset. Our dedicated underwriter was able to submit all the necessary documentation with minimal requirement from the borrower.

Funds were released after 2 weeks, which left the client extremely happy. They were then able to secure their new property investment and expand their portfolio. Their exit strategy was long-term refinance.

Benefits

Finding a lender you can trust has never been more important. To ensure our borrower could invest with confidence, we provided indicative terms upfront. Here at MFS, once terms are agreed – we never change our rate or go back on a deal. We pride ourselves on the transparency we provide with every loan.

Unlike other lenders, we underwrite from day one, so that we can stay informed from the start and stay ahead of any potential issues, should they arise.

Having previously worked with the client, the assigned underwriter was able to draw down the funds before the client’s preferred completion date. As all borrowers are assigned a dedicated MFS contact, this creates an easy path of communication for both us and our client. It also provided an existing understanding of the client’s current portfolio, meaning the underwriter knew exactly what they were working with.

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