The bridging lender is opening a new office and subsidiary company Market Bridge Solutions (MBS) in Singapore following growing borrower appetite in the region for alternative funding sources.

MFS hopes expansion into Asia will allow it to take advantage of the region’s rapid rise as a global hub for finance, business and investment, with Singapore seen as a gateway linking east and west.

MBS is aiming to increase the number of borrowers who can access bridging loans in Singapore, offering a fast, reliable and readily accessible service as well as harnessing MFS’ experience and expertise.

MBS will apply similar due diligence processes and lending models as its London-based parent company.

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Key MBS services include:

• short-term, asset-backed lending solutions with specific focus on supporting those looking to consolidate or expand their property portfolio
• loans ranging from $500,000-10m, with borrowing terms ranging from three to 18 months
• borrowers and investors accessing UK and Singapore markets.

“The growth of the UK bridging market over the past decade has been remarkable, with borrowers hungry for fast loans to seize property investment opportunities,” said Paresh Raja, CEO at MFS.

“International markets have clearly taken note and for countries like Singapore, which boasts a thriving real estate sector, investor appetite is high.

“MFS’ expansion into Singapore with the launch of MBS marks our first step into the Asian market, and once we have fortified our position, we will be considering further roll-outs in the likes of Hong Kong, China, Indonesia and Malaysia.”

Tiba Raja, director at MBS, added: “Similar to what we have seen in the UK, bridging has become a smart and effective tool for borrowers and brokers in need of a loan to quickly fulfil a financial objective, particularly when it comes to property.

“Because these loans are asset-backed, MFS has been able to support borrowers seeking to act quickly in the UK, and it’s exciting to see these same dynamic services now [offered] in Singapore, supported by our tried-and-tested due diligence process.”