Paresh Raja

MFS deploys £18m worth of bridging loans during lockdown

Market Financial Solutions (MFS) has deployed 22 bridging loans totalling £18m during the Covid-19 lockdown.

All the finance has been arranged since the lockdown measures were put in place, from initial enquiry through to the release of funds.

One successful deal was for £500,000, to help a client in Northern Italy complete a property transaction in South London.

MFS acted quickly to ensure the borrower could meet their deadline and not lose their deposit.

Paresh Raja, CEO at MFS (pictured above), said that its team of underwriters had demonstrated great skill in deploying bridging loans with the same professionalism, even with the obstacles posed by the Covid-19 outbreak.

“As a result of the pandemic, we are seeing more and more lenders not able to accept new loan applications,” he claimed.

“Other are taking longer to issue finance, and that’s why property buyers and brokers are looking to specialist finance lenders to bridge funding gaps. 

“At the same time, it is making more people aware of the advantages bridging loans have to offer.” 

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