The lender has created the product for clients seeking to purchase at auction, or who have a completion date set for less than 28 days. 

When using this option, solicitors will be instructed within a matter of hours of terms being agreed to ensure that all parties can work on the transaction immediately. 
  
MSXC offers loans at a maximum 75% LTV for residential purchases and 70% LTV for semi-commercial and commercial property acquisitions, and requires no full valuation up to £750,000 — however, the lender confirmed it is happy to consider the LTVs, as well as loan sizes, on a case-by-case basis.

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Desktop valuations are available up to £2m on residential, semi-commercial and commercial properties.  

Michael Stratton, CEO and founder of MS Lending Group (pictured above), said: “We felt that there was a need for a product that meets the unique demands of many of our clients. 

“We have forged a reputation for being a flexible lender, which is able to work at speed and we wanted to ensure all our clients know that we have a specific product, designed for this growing issue. 

“Valuation turnaround times aren’t conducive to tight timescales, and we feel that this product compliments what we are already doing.”
 
Rob Goodall, MS Lending Group’s MD, added: “We know how important our speed and flexibility is to clients. 

“We are providing a workable solution to those who are hesitant to purchase at auction without knowing if their lender will pull through with the funds on time. 

“We work closely with our panel managers, and their desktop valuations provide us with the information required to undertake a full underwrite of a case, without the necessity to wait what could be weeks for a full valuation — a requirement for most other lenders.”

At the end of February, MS Lending announced it surpassed £100m in lending in its first two years of trading.