MS Lending Group has completed a £250,000 bridging loan in under 48 hours for a new borrower who required funding for the purchase of a £600,000 BTL property ahead of the stamp duty holiday deadline.
Within 30 minutes of receiving the call, the lender reviewed the application and sent terms to the client.
Once the terms were agreed, the report on title was received the following day and all checks were completed and funds transferred in less than two days.
The facility was agreed on a 12-month term in order to give the client time to re-mortgage with a lender onto a long-term BTL product.
Managing Director, said: “This is a great example of our no valuation necessary up to £500,000 loan product in practice.
“We are so pleased we were able to deliver a great service for our client."
“We are extremely conscious of ensuring we have products which really help our customers, and makes their lives easier, while also offering them a great experience.”
Client quote: “I can’t thank MS Lending Group enough. I had a mortgage in place but the process was taking too long which was making me very nervous ahead of the stamp duty deadline. MS Lending Group stepped in and got a bridging loan completed within 48 hours to save the purchase and my deposit. I can’t thank the team enough and would recommend them to any other investors”
Broker quote: “My client’s offer had been sat with a lender or a few weeks and I was conscious the stamp duty holiday deadline was looming. I got in touch with the team at MS Lending Group who got the deal agreed and instructed to solicitors the same day. We them completed within 48 hours of application submission. Wow, what a service and experience.”