Client’s circumstances: MTF recently helped a client who required £1,000,000 to expand his business abroad. Funds were required very quickly so that the client could take advantage of a great business opportunity. The client was a main shareholder in a listed company and owned a property worth £2.25 million with an existing first charge of £460,000. However, due to client’s non-standard income structure, his mortgage lender refused him finance due to ‘MMR affordability issues’.

MTF solution: As a non-status lender, MTF was not concerned with the client’s income structure, only the quality of the property that would be used as security for the advance. MTF was able to secure a second charge bridging loan, on an 18 month term at 66% LTV, on open market value.

The benefits: The client was able to expand his business abroad, using the funds to pay for the initial operating costs and the 18-month term gave the client plenty of time to arrange and secure a business loan with a bank, in turn settling the bridging loan.