MS Lending Group completes £4m bridging facility in six days
The funding was required to enable the client to capitalise on a business opportunity and was introduced by an existing broker partner of the lender.
MS Lending Group has completed a £4m bridging facility for a high-net-worth (HNW) client six days after receiving the property valuation.
The funding was required to enable the client to capitalise on a business opportunity and was introduced by an existing broker partner of the lender.
The £4m facility was secured against a property in the North West valued at £10m by way of a third-party first legal charge, representing a 40% loan-to-value (LTV).
The client also held a property portfolio valued at close to £20m, with low overall debt, and operated a business with millions in cash reserves.
MS Lending Group received the property valuation on 21st August, before issuing its offer and instructing solicitors on 24th August.
The facility completed on 27th August.
The client intends to repay the loan using capital generated through the business during the loan term, with their wider property holdings and personal finances providing alternative repayment options if required.
Michael Stratton (pictured), CEO and founder of MS Lending Group, said: “This deal came to us through a broker partner we work closely with. What made the difference was the quality of the client and the fundamentals of the proposition.
“The client is an experienced operator with strong cash reserves, reasonable debt levels, and a clear plan to deploy the funds.
“We knew quickly that we were comfortable with it, and that’s when you can move at pace.
“Our brokers know we’ll turn things around fast when the deal makes sense, and that’s part of why they bring us their best clients.
“This is how MS Lending Group works: we look at the deal, understand what’s needed, and work with you to get it over the line.”
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