MFS secures £300m of new funding

Market Financial Solutions (MFS) plans to reach a £1bn loan book by 2023, after obtaining over £300m of new funding.

The additional capital — which comes from multiple global financial institutions — will be used to speed up the growth of the London-based lender’s loan book across bridging finance and BTL mortgages.

Now with multiple dedicated funding lines, MFS will use the additional funding capacity to further focus on large bridging loans and BTL mortgages. 

“We’re delighted to have secured this new funding from some very highly regarded global financial institutions,” said Paresh Raja, CEO at MFS (pictured above). 

“It will greatly accelerate growth across all our product lines.

“In particular, it means MFS can deliver BTL mortgages to more and more clients; the funding will also allow us to bolster our reputation for handling very large loans and taking on the quirkiest bridging and BTL cases the market has to offer.

“It’s a hugely exciting development for MFS, putting us in a position of real strength.” 

Over the past 12 months, the finance provider has doubled the size of its team, and will be adding new personnel imminently, including a range of bridging and BTL roles across underwriting, business development management and marketing. 

“Following a successful 2021, in which our team grew rapidly, we will now look to hire the best talent across the bridging and BTL markets,” added Paresh.

“In turn, we will reinforce the quality of the products and services that we deliver to brokers and private clients. 

“We have bold ambitions, wanting to increase our loan book to £1bn by early 2023. 

“We’re very confident that between our bridging, large loan and BTL products, and with such strong funding lines and great personnel in place, we have all the components to meet and surpass our goals.”

In January 2022, MFS rolled out its BTL mortgage range to the wider broker market following a successful soft launch, catering for both vanilla and large, complex deals.

The bridging lender had piloted the products since October 2021 with 17 intermediary partners, where it saw £100m worth of enquiries in the space of two months

The new BTL business is headed up by Mike Cook, who joined the company last year as chief mortgage officer

The product is suitable for clients in complex situations, as well as corporate or overseas structures, including offshore companies, trusts and foreign residents. 

The company will also lend on a wide range of strong-yielding property types, such as large HMOs, multi-unit blocks and holiday lets. 

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