The 12-month term loan, secured against five multi-unit freehold blocks of flats located in Derby, Manchester and Huddersfield, was agreed at 59% LTV based on market value, with a total asset value of £8.65m.
Following an initial enquiry on a Monday, MS Lending Group instructed valuations and legal work by Wednesday, once day-one terms were agreed.
Reports on title were received by Friday, with the transaction successfully completing the following Monday.
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Desktop valuations were utilised to streamline the process, enabling the borrower to meet tight acquisition deadlines without compromising due diligence or structure.
Michael Stratton, CEO and founder of MS Lending Group (pictured above), commented: “This was a fast-moving, high-pressure transaction with multiple assets across different locations.
“We were presented with an existing borrower, a conservative LTV and tight timescales.
“It’s a great example of what can be achieved when a lender can think and look outside the box, and find solutions."
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