raising a deposit, RH2
Clients were looking to raise funds to put down a deposit on a large residential investment asset. They needed to move very quickly in order to take advantage of the opportunity and their mortgage lender was unable to provide them funds in the time-frame required.
MT Finance solution
In just over 2 weeks, MT Finance provided a £525,000 second charge bridging loan over their main residence at a loan to value of 65%. The loan ran over a 12-month term, with no exit fees or early repayment charges.
The clients were able to secure the high-yielding investment of 6 self-contained flats and the 12-month term gave them plenty of time to arrange a buy-to-let mortgage with their bank.