MFS provides over £30m of bridging loans during lockdown
Paresh Raja

MFS provides over £30m of bridging loans during lockdown

Market Financial Solutions (MFS) has deployed over £30m of bridging loans during the Covid-19 lockdown.

The lender issued these loans between the 23rd March and 30th June for residential and commercial bridging finance.

One recent deal was £1.2m second-charge commercial bridging loan, to allow a client to complete on a share purchase for a new business and to restructure existing finance.

Due to having access to in-house credit lines and a team of experienced underwriters, MFS has remained open for business throughout the lockdown period.

The lender has also launched a new CRM system to streamline its internal processes, to ensure all queries from private clients and brokers can be addressed within hours of being received.

Paresh Raja, CEO at MFS (pictured above), said: “We have experienced a notable increase in enquiries from brokers in need of bridging loans for their clients during lockdown. 

“Not only are brokers requesting loans that can be tailored to meet the complex needs of their clients, they are also after loans that can be deployed quickly to ensure deadlines are met and transactions are completed. 

“Sophisticated bridging lenders have been vital in propping up the real estate market during this uncertain time, showcasing just how bridging loans can be used to help buyers in difficult situations.

“As highlighted by the value and volume of loans we have completed so far, bridging lenders like MFS will continue to play an integral role supporting property transactions in the UK.”

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