Helping an investor meet a tight deadline less than a week away

Loan Amount:
£5,900,000

Property Value:
£8,200,000

LTV:
72%

Sometimes, in a deal, everything can come together at one time to create some real pressure for the borrower. This can also add pressure on our underwriters, but it can lead to some amazing results. The underwriter for this deal managed to get everything wrapped up within 6 days.

Speed is one of our key selling points here at Market Financial Solutions, which is why this broker approached us. They had a borrower who required refinancing imminently to meet a strict deadline on an existing facility.

Time was of the essence, and our underwriter got to work immediately.

Time management at its finest

The investment was sound. As the property was a prime asset, and the borrower had plenty of investment experience, there were few issues to iron out. Also, the borrower held other assets in their portfolio that could support their plans if anything went wrong down the line.

It was the turnaround time that presented the main challenge. Even for an ideal case, delivering funding in less than a week would be tricky.

But, the underwriter on this case relished the challenge. On top of utilising our existing suite of underwriting tools, they also reorganised their workflow to ensure enough time could be dedicated to this case. They also made themself available to the broker out-of-hours just to keep on top of everything.

Through this dedication, we managed to turn this case around rapidly, and allowed the borrower to hit their deadline.

We can keep up with the market

Property investors may want to move especially quickly over the coming weeks and months. The government has warned that taxes will have to rise, and many landlords are already selling up ahead of this.

This may create a short window of opportunity for expanding investors, however. As landlords sell, buyers may be able to lock in bargains in commuter towns, rural locations, and more.

Evidently, we’ll be able to keep up with this. Even it means we need to move things around to keep on track.