New loans for the new normal – MFS unlocks property investment with bridging loans

The introduction of the Stamp Duty Land Tax (SDLT) holiday is already having its desired effect. Property inquiries are up by 75% since the introduction of the holiday, and average house prices have been increasing in tandem.

Mortgage providers who initially retreated from the market are now slowly returning as lockdown is lifted. However, many borrowers and the brokers who represent them are still struggling to access the finance needed to close on transactions.

Recent statistics from the Bank of England revealed that mortgage purchase approvals increased to 40,000 in June, up from the record low of 9,300 in May, but still below February’s pre-Covid level of 73,700. Even with the SDLT holiday in place, the fear is that many prospective homebuyers could miss out on new opportunities due to delays in getting a mortgage.

This is why it’s important that those seeking to expand their property portfolio are fully aware of all the financing options available to them. Thankfully, with high street banks still reeling from the impact of COVID-19, bridging lenders have stepped up to meet the market demand for capital.

New loans for the new reality

Market Financial Solutions is one of the few bridging lenders who have remained open throughout the entirety of lockdown. Between March 23rd and mid-July, we provided over ￡30 million worth of loans.

With the UK still recovering from the impact of COVID-19, now is an important time to ensure lenders are doing everything they can to stimulate investment into real estate – a sector integral to the UK economy.

That’s why MFS are pleased to announce that we are now offering rates from 0.59% and taking on cases at a maximum LTV of 75%. These are available for first and second charge residential and buy-to-let purchases, as well as commercial and semi-commercial investments.

No matter how complex your case may be, we are eager to learn how we can help.

If you are planning a residential or commercial property purchase in the coming months, please don’t hesitate to get in touch with one of our experts to find out more. You can email us at [email protected] or call us on 020 7060 1234.