Please contact us at office@mfecapital.co.uk if you cannot find an answer to your question.
Our minimum lending amount is £25,000 and our nominal upper limit is £500,000. However, we will consider projects up to £5million with sufficient security in place.
Our standard interest rate is 1.5% per month.
Most borrowing is agreed for a period of 3-12 months. However, we can arrange funding for as little as 1 month, subject to certain conditions and adequate security. It is very rare for any agreed borrowing to exceed 15 months.
We require a first legal charge over the land/property. In addition, we may require security over other assets in order to cover the value of any agreed lending amount. Borrowers will be expected to sign legally-binding contracts before any funds are dispersed. We will carry out full credit checks on each borrower and personal guarantees are often required.
Security can be obtained over residential property, commercial property, development plots and building land.
No, we do not charge any application fees. A small fee may be charged if we require a surveyor to compile a report on the condition and status of a development. We encourage all applicants to provide as much detail as possible in their finance application - this will reduce any unnecessary delays and any additional costs.