Why MHBS?
- Product variations available to allow flexibility
- Named underwriter for each case
- Specialists in refurbishment with stage drawdowns
Key features
- £200k – £3m loans
- Terms up to five years available for High Net Worth individuals
- Rates from 0.44% per month. This is an approximate monthly rate
- Pricing options available
- Interest charged on a daily basis
- Fixed and variable rates available (subject to LTV)
- Up to 60% LTV based on the Open Market Value
- No exit fees or ERCs
- Serviced and rolled up interest options available
- No affordability assessment needed for rolled up loans
- Maximum age 85
Scenarios
- Downsizing
- Buy before you sell
- Build a property, in the garden or on a plot (stage drawdowns are available)
- Complete an existing property development
- Fix a broken property chain
- Buy and refurbish your new home before moving in
- Refurbish your house before selling
- Re-bridge
We’ll consider other scenarios too, please talk to your Specialist Lending Manager.
Products and criteria
| LTV | Loan size | Rates from | Application fee | Arrangement fee |
| ≤60% | £200k – £3m | 0.52% | £495 | 2% |
| ≤45% | £200k – £3m | 0.44% | £495 | 2% |
These are approximate monthly interest rates.
We charge our interest on a daily basis.
Standard pricing model shown above. Flexible options available upon application:
- Pro-rata reduction in arrangement and procuration fee
- Reduction in arrangement fee with increased interest rate
– Every 0.1% reduction in arrangement fee increases interest rate by 0.3%
Note: interest rates on bridging loans are subject to a minimum interest rate of 5.24% per annum. Talk to us to find out more.
Other fees to be paid by your client:
- Valuation fee
- Legal fees
- Quantity Surveyor fee (for some development cases)
- Funds transfer fee
Fees are outlined in the Society’s Tariff of Mortgage Charges.
| Applicant criteria | |
| Minimum age | 18 |
| Maximum age | 85 at the end of the loan |
| Maximum number of applicants | Four |
| Residential status | UK and expat loans considered. Please see our current list of countries that we can consider |
| Foreign nationals | Foreign nationals considered |
| Credit impairment | We are unable to accept credit impaired applicants |
| Security criteria | |
| Location | England or Wales |
| Primary security | Must be residential in nature |
| Additional security | • We accept more than one property as security • We will consider a second charge on additional security • We will consider development land as additional security |
| Stage drawdown criteria | |
| Timings | • Stages pre-agreed at application |
| Acceptable evidence | • Lender visits • Architect updates • Project manager letter • Photographs • Other options agreed in advance |
| Considerations | • Greenfield sites will require an additional security |
| Loan criteria | |
| Amount | £200k – £3m |
| Term | Usually up to 12 months. Up to five years for High Net Worth individuals |
| Maximum LTV | 60% overall based on the Open Market Value |
We accept residential properties as security, for example:
- Main home or new home
- Second home
- Buy to let
- Holiday let
- Houses with land, an annexe or a commercial element
We are happy to consider unusual properties, including the following:
- Listed buildings
- Large acreage
- Properties with an annexe
- Leasehold (with min 50 years at completion of the loan, 15 years in Central London)
Exit strategies
The sale of the primary security is often used to repay the loan but we also consider other methods:
- Cashed in investments
- Pension maturity
- Sale of property abroad
- Sale of buy to lets or holiday lets
- Sale of land
- Remortgage to a longer term facility
We’ll consider other strategies too, please talk to your Specialist Lending Manager.
Get in touch
Pricing is tailored to your clients’ individual circumstances. To find out more or discuss a case, talk to your nearest Specialist Lending Manager.
Ready to talk?
Experience our first-class, personal service with a dedicated Specialist Lending Manager and named underwriter for your cases.