Initial circumstances: Client required funds to complete the purchase of a commercial property, which they planned to convert into a house of multiple occupation (HMO). The vendor had set a specific timescale for completion, therefore the client needed to act quickly in order to capitalise on this valuable opportunity.

mtf solution: mtf provided a first charge loan of £960,000 at 59% LTV, seven days before the client’s deadline. Interest was retained at 0.79% per month, over a 12-month term without exit fees or ERCs. We didn’t require any personal guarantees.

The benefits: Our bridging loan meant the client was able to purchase the property before the set deadline. The client will exit the bridging loan by arranging development finance to fund the HMO conversion.