The lender launched the property investment drive two months ago and has seen a remarkable surge in interest from aspiring property investors from across the UK.

The fund was launched to support fledgling property investors and landlords who were in need of finance with applicants able to receive bridging loans which range from £200,000 to £1m.

The increase in funding to £40m will allow MFS to lend up to 75% LTV.

MFS will also be providing intermediaries with a 1.5% commission on loans over £1m.

“With the nation facing unprecedented demand for residential real estate, refurbishment and restoration projects hold critical value in sustaining the rapid growth of the market,” said Paresh Raja, CEO of MFS (pictured above).

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“According to HM Land Registry, the market has grown by 4.7% annually, yet estimates suggest that the UK will require an additional 250,000 new homes every year to meet current demand.

“Serving as an industry first, MFS’ FlipFinance2017 initiative provides tailored bridging finance to aspiring investors striving to bring a proportion of the UK’s staggering 1.4 million vacant properties on to the market.”

MFS recently published its EU Referendum: One Year On infographic and plans to release a new report over the coming weeks profiling the public’s appetite for both refurbished traditional and new-build properties.

The report will provide an insight into the types of properties that are attracting the attention of homebuyers and real estate investors, enabling the industry and government to focus their efforts accordingly.