The London-based bridging lender reported that last month included large loans, and it was particularly busy lending to property buyers who were at risk of their transactions falling through due to other lenders withdrawing products.
In response to this trend, MFS launched a dedicated Covid-19 recovery fund in August, which set aside £60m to ensure loans could be issued quickly to those at risk of a transaction deteriorating.
All of November’s loans came from this fund, which is constantly replenished.
“MFS has not been succeeding in spite of Covid-19, but because of it,” said Paresh Raja, CEO at MFS (pictured above).
“Reliable firms with strong credit lines, such as MFS, have been well placed to step in and ensure these transactions go ahead.
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“For us, the priority throughout 2020 has been to fully commit to supporting clients; when we say yes, we mean yes.
“This certainly isn’t true of all lenders, and many property buyers have learnt that the hard way in recent months.
“We’re now looking forward to a successful 2021 as we continue to grow the network of brokers and private clients that we work with.”
MFS was recently named the lead sponsor of FIBA’s 2021 Annual Conference, which is scheduled for 20th January next year.
Last month, the specialist lender announced a new partnership with Vanquish Business Services, to mutually benefit their respective clients.
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