Fast investment property purchase, NR10
Our client had 10 days to complete a purchase of an investment property which he had agreed to buy for £355,000. They needed to move very quickly in order to take advantage of the opportunity.
MT Finance solution
The client had previously had a valuation report undertaken on the property by another lender who were unable to proceed, we were able to utilise a retype of this report to complete on the transaction. In just 7 days, MT Finance provided a £355,000 short-term loan, based on 59% LTV of the open market value. Interest was retained at 0.79%, over a 18-month term, no personal guarantees were required either.
The client was able to complete on the purchase of the investment property, whilst benefiting from the increase in value between the purchase price and the current market value.