Products

MFS and Catalyst bring in new bridging products



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Market Financial Solutions (MFS) and Catalyst Property Finance have revealed enhancements to their specialist finance products.

MFS

MFS has launched 753 (75-cubed), a new initiative designed to fast-track residential property deals in the coming months.

The bridging lender has committed £75m of funding for residential bridging loans at 75% LTV and an interest rate of 0.75% — this applies to single residential properties valued up to £2m.

MFS has created the new scheme to support property investors while the stamp duty holiday remains in play. 

Through 753, the finance provider aims to support more clients as they look to purchase properties during the current market uplift.

“The UK’s property market is buoyant right now, with prices and transactions accelerating at pace,” said Paresh Raja, CEO at MFS.

“Our new 753 initiative, with better rates and high LTV, will help those keen to take advantage of this market growth by ensuring they have fast access to bridging loans so they can complete on a deal.

“MFS has already grown its team by 40% this year; when combined with this new £75m in allocated funds, it means we can handle an increased number of enquiries and issue loans within days.”

In March, the lender relocated to a larger office in Mayfair, London, after securing its second funding line this year worth £200m from a global hedge fund.

The following month, MFS increased its maximum bridging loan size to £30m and enlarged its maximum loan term to 24 months as part of a series of changes to its lending criteria for the 2021/22 financial year.

Catalyst Property Finance

Catalyst Property Finance has introduced a new bridging product suitable for clients with a wide range of residential and semi-commercial property. 

It offers loans between £750,000 and £3m, with rates starting at 0.65% for loans up to 70% OMV and 0.69% up to 75% OMV.

There is a 2% facility fee and no exit fee or ERCs, with proc fees set at 2%.

The product caters for light, medium and heavy refurbishment, as well as capital raising, and all borrower credit tiers.  

Anna Bennett, marketing director at Catalyst Property Finance, said: “We’re excited to launch such a competitive product at a time when the property market is so active. 

“Demand for short-term finance is high and this bridging product fills the gap for clients with larger property projects who are in need of a higher leverage loan.”

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