MS Lending Group has completed a £4.6m loan on a 50-property portfolio in three weeks.
The property investor clients, who are direct customers of the lender and operate in the private landlord and social housing sectors, had an opportunity to purchase the Midlands portfolio at below market value and so needed to move quickly.
The properties were a mixture of mid-terrace, end-terrace, and semi-detached houses ranging from one to five bedrooms.
- MS Lending receives further £40m funding line from Pollen Street Capital
- MS Lending completes £3m facility across eight properties
- MS Lending receives further £40m funding line from Pollen Street Capital
Speed was important due to tight deadlines with the scrapping of multiple dwelling relief in June, saving them over £200,000 in tax.
Michael Stratton CEO at MS Lending (pictured above), said: “we were proud to work with our longstanding clients on getting this transaction sorted.
“We were able to demonstrate our unique offering, in completing a loan of this size without the need for a full RICS valuation and using our common-sense approach and visiting the properties personally ourselves.
“I’m also extremely proud of our team, individually underwriting each property in addition to what was already our busiest month on record for the business.”
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