North West based, MS Lending Group have completed a £4m week. The most successful week for the business since it began early 2021. The week included 12 completions, ranging from vanilla residential assets to quirky commercial and semi-commercial assets. Highlighting the lenders diverse product range.
CEO Michael Stratton said, ‘it was a busy yet great week for the business! There were rumours in the industry that lenders were planning to increase their rates in July following the Bank of England’s announcement. We also found lenders were pulling out of deals or increasing the amount they had initially agreed to charge the customer at the last minute. We saw an influx in enquiries and completions and were delighted to help out as many clients as we did. Our no valuation product really comes into fruition when customers are stuck last minute’.
June also included one of MS Lending Group’s largest deals. The company completed a £1.2m capital raise on a hotel in the North West. The deal was highly complex, full of multiple complicated lease structures. Although a unique and new one for the team, by working in cohesion with the client, broker, and solicitors, MS were able to complete within 12 days. As well as one of the companies quickest, a £518,000 loan was also completed in June in just 3 days. The auction purchase in London was completed without a valuation when the clients initial BTL lender pulled out at the 11th hour.
This month the company has taken on two additional staff, and have a further two joining in the next few months.
Michael Stratton added “As the pipeline grows we’re always conscious of the service we want to deliver to our clients, that’s why we will always hire to ensure our service never falters. Our clients appetites are there, and so is ours!”