MT Finance is a leading property finance lender founded in 2008, offering financial services to property professionals, business owners, and individuals. They specialise in auction finance and bridging loans.
In their 15 years of experience, this lender has won many awards for their quality of service and is a trusted leader in the industry.
My review takes a closer look at MT Finance, detailing the lender’s products’ key features, eligibility criteria, application process, rates and reviews to help you decide if MT Finance is the right option for your needs.
MT Finance Bridging Loans: Overview
MT Finance offers a range of unregulated bridging loans from £50k to £25m for both residential, semi-commercial and commercial needs.
Loans can be used to quickly secure property purchases, fund refurbishments, raise capital, or refinance existing loans.
Key features include
- Bridging loans from £50,000 to £10,000,000, with up to 70% LTV available
- Rates start from 0.99% per month for terms from 1 to 24 months
- 1st and 2nd charge loans available
- Adverse credit, CCJs and arrears are considered
- No upfront fee
- No exit fee
- No early repayment fee
- No credit scoring
- Interests can be retained, serviced and part/part
MT Finance has a good reputation. They provide bridging loans for every type of borrower, consider more complex profiles, and have a simple and straightforward application and completion process.
What are the Eligibility Criteria for an MT Finance Bridging Loan?
Borrowers Requirements
| Criteria | Value |
|---|---|
| Accepted Applicants | Individuals, LTDs, LLPs, Non-EEA, Expats, Offshore Companies |
| Age Range | 21 – 85 |
| First-time Landlords | ✅ |
| CCJs and Arrears | ✅ |
Loan Criteria
| Loan Type | Term | Amount | Max. LTV |
|---|---|---|---|
| Residential Property | 1 – 24 Months | £50K – £10M | 70% |
| Semi-Commercial Property | 1 – 24 Months | £50K – £10M | 65% |
| Commercial Property | 1 – 24 Months | £50K – £10M | 60% |
| Heavy Refurbishment | 1 – 24 Months | £50K – £500K | 65% |
| ⚖️ Regulated Bridging | 1 – 12 Months | £50K – £2.5M | 70% |
Loan Purpose
Unregulated – 1st Charge
- Buy-to-let
- Property purchase
- Capital raise
- Time-restricted transactions, including auctions
- Light refurbishment
- Heavy refurbishment
- Below market value purchases
- Lease extensions
- Refinance an existing loan
- Rebridge
- Debt consolidation
Unregulated – 2nd Charge
- Additional property purchase or deposit
- Business purposes
- Refurbishment of security or alternative
property
⚖️ Regulated – 1st and 2nd Charge
- Property purchase
- Capital raise
- Light refurbishment
- Heavy refurbishment
- Below market value purchases
- Time-sensitive transactions
- Auction purchases
- Gifted deposits
- Pay tax bills
Application Process for MT Finance Bridging Loans
MT Finance provides a clear and simple application process for their bridging loans. Here are the five steps to securing a loan with them.
- Enquiry– Start with contacting MT Finance’s team via their Quick Enquiry Form.
- Offer – MT Finance will review your case and, if you and your loan meet the requirement, get back to you with an OIP within 2 business hours.
- Valuation – MT Finance will instruct a surveyor to value your securities. This takes about 72 business hours.
- Legal – Your solicitors will be sent the requirements checklist. If all is confirmed, MT will issue the mortgage deed you’ll need to sign.
- Funding – Once the legal process is done, the funds will be transferred to your solicitor within 24 hours.
The front-end process is quick and straightforward, with minimal information needed upfront. More due diligence will come before formal approval.
MT Finance Bridging Loan Rates
Here are the MT Finance bridging loan rates for 2023.
1st Charge Rates
| Loan Type | <50% | <55% | <60% | <65% | <70% |
|---|---|---|---|---|---|
| Residential Property | – | – | – | 0.99% | 1.09% |
| Semi-Commercial Property | – | 0.99% | – | 1.05% | ❌ |
| Commercial Property | 0.99% | – | 1.09% | ❌ | ❌ |
| Heavy Refurbishment | – | – | – | 1.10% | ❌ |
| ⚖️ Regulated Bridging | – | – | – | 0.99% | 1.05% |
2nd Charge Rates
| Loan Type | <50% | <55% | <60% | <65% | <70% |
|---|---|---|---|---|---|
| Residential Property | – | – | 0.99% | 1.09% | ❌ |
| Semi-Commercial Property | – | – | – | 1.15% | ❌ |
| Commercial Property | – | – | 1.15% | ❌ | ❌ |
| Heavy Refurbishment | ❌ | ❌ | ❌ | ❌ | ❌ |
| ⚖️ Regulated Bridging | – | – | 0.99% | 1.09% | ❌ |
MT Finance Reviews & Ratings
Overall, MT Finance receives very positive reviews, earning an excellent score of 4.7 out of 5 on Feefo and 4.2 on Google Reviews out of a total of 200 reviews.
The majority of reviews rate MT Finance 5 stars. Customers praise the quick completion time, easy process and helpful team of bridging experts.
The negative reviews mainly relate to administrative hiccups, such as draw-down methods and unanticipated fees. However, negative reviews seem limited compared to the overwhelming positive feedback.
Reviews indicate high customer satisfaction with MT Finance’s lending services, owing to easy processing, flexible terms, and great customer support. While a minority of customers have faced challenges, the overall sentiment toward MT Finance is very favourable.
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MT Finance FAQs
What are the unique advantages of choosing MT Finance for my bridging loan needs?
MT Finance is known for its quick decision-making process, often within hours of an initial inquiry, and can release funds in a matter of days, making it a suitable choice for time-sensitive opportunities.
Are there any specific credit score requirements for obtaining a bridging loan from MT Finance?
MT Finance does not require a minimum credit score or conduct credit scoring, making it accessible even for those with adverse credit histories.
What type of properties are acceptable as collateral for a bridging loan from MT Finance?
MT Finance accepts residential, commercial, and semi-commercial properties as collateral. They do not accept land, care homes, places of worship, schools, trading pubs, and hotels, or properties not based in England or Wales.
How is the loan application process structured at MT Finance?
he process involves an initial enquiry, receiving an Offer in Principle (OIP) usually within 2 business hours, property valuation, legal requirements fulfillment, and fund release which can take an average of 11-14 days in total but can be completed earlier depending on circumstances.
How is the loan application process structured at MT Finance?
he process involves an initial enquiry, receiving an Offer in Principle (OIP) usually within 2 business hours, property valuation, legal requirements fulfillment, and fund release which can take an average of 11-14 days in total but can be completed earlier depending on circumstances.
Are there any special considerations for first-time property investors or purchases at undervalue?
MT Finance is open to lending to first-time investors and can lend up to a maximum of 70% LTV of the open market value or 90% of the undervalue purchase price, whichever is lower.
