Paresh Raja

MFS cuts rates across product range

Market Financial Solutions (MFS) has reduced its rates across a number of its products.

The London-based bridging lender’s rates now stand at 0.95% for commercial loans at 60% LTV and 1.09% at 75%, down from 0.99% and 1.15%, respectively. 

MFS has made identical changes to its semi-commercial bridging offering, having seen greater interest in both markets in recent months. 

The company has also cut the rates on its second-charge loans, which now stand at 0.89% at 50% LTV (down from 0.99%); 1.09% at 60% LTV (down from 1.15%); and 1.19% at 70% LTV (down from 1.25%).

“The stamp duty holiday has ended, and the property market is likely to undergo a period of transition between now and the New Year,” said Paresh Raja, CEO of MFS (pictured above).

“For MFS, we always want to ensure our products are a perfect fit for where the market demand is; we are seeing increased interest in commercial and semi-commercial investments, as well as for larger loans, so we have improved our offering in these areas.”

The finance provider is currently offering loans in excess of £30m, including complex cases, with a dedicated underwriter on each deal. 

“MFS will very soon turn 15 years old, and this constant desire to improve our products and the way we deliver them has been fundamental to our growth and success over the years,” Paresh added.

“We know there is no room for complacency in the market, and we show how much we value brokers and property investors by providing a completely transparent, upfront set of rates, along with an exceptional service.”

The lender’s new rates can be found in its Q4 2021 lending guide.

In August, MFS teamed up with Twenty7Tec to boost the lender’s visibility and expand its offering.

Since the start of the year, the business has grown staff numbers by more than 40% and launched a new development exit product.

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

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