MFS partners with Twenty7Tec

MFS has teamed up with Twenty7Tec as it plans for further expansion following a successful 12 months.

The partnership aims to boost the lender’s visibility, where it will benefit from the fintech company’s complete technology suite, including CloudTwenty7 — a platform designed to simplify and increase the speed and efficacy of searching, applying for and obtaining a mortgage.

Used by intermediaries, it covers mortgages, bridging finance and secured loans.

In addition, it will enable more brokers to access MFS’s specialist finance products via Twenty7Tec’s SOURCE module, which is a search engine for mortgage, equity release, secured and bridging loan products.

It analyses product, criteria and lender affordability to determine the most appropriate product recommendation.

Since the start of the year, MFS has grown staff numbers by more than 40%, increased its maximum loan amount and term, and launched a new development exit product.

The bridging lender has also secured three new funding lines, worth a combined £400m.

Paresh Raja, CEO at MFS (pictured above), said: “We are delighted to partner with Twenty7Tec and its SOURCE solution via the CloudTwenty7 platform. 

“We’ve enjoyed a great 12 months and have grown at pace, but we’re always looking for ways to expand and improve our offering.”

Nathan Reilly, head of lender relationships at Twenty7Tec, added: “We’re committed to making the mortgage research and subsequent submission process as efficient as possible for CloudTwenty7 users. 

“A big part of this is regularly adding new lenders, like MFS, to our SOURCE module so advisers can identify the best options for their customers across a comprehensive range of mainstream and specialist lenders.”

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