Picture  of mansion building

MFS provides £2.75m bridge for mansion acquisition

Market Financial Solutions (MFS) has completed a £2.75m bridging loan to assist in the acquisition of a Victorian mansion in Horsham.

The client approached MFS for help in acquiring a property complete with just under 100 acres of landscaped gardens, a swimming pool and a tennis court.

The market value of the property was £5.5m.

An urgent completion was required as the borrower had been offered a slightly discounted price from the seller in return for a quick transaction.

The borrower hoped to exit the bridge through a long-term refinance with another lender and had already secured an ‘intent to lend’ letter in anticipation of this.

MFS was happy to lend as the nature of the property and a low loan-to-value made it a low risk deal.

The firm instructed its valuation and legal teams simultaneously with the borrower’s solicitors on standby, enabling the funds to be drawn down well before the deadline.

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