Of the total, at least £200m will be ring-fenced to boost the lender’s BTL proposition, as it continues to grow that area of the business.
Since launching the BTL range in January 2022, the finance provider has seen significant demand for its products — with almost £500m of enquiries registered in the first few months of the proposition going live.
The new funding, which comes from various leading institutional investors, will add significant capacity and funding diversification to support the continued growth of MFS’s specialist lending products.
The specialist lender is on track to achieve its goal of growing its overall loan book to £1.5bn in 2023.
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Paresh Raja, CEO at MFS (pictured above), said: “Following the success of our BTL product since the launch last year, this additional funding will further increase our capacity.
“We continue to support borrowers and brokers by providing certainty and flexibility in the current climate of high inflation and rising interest rates.
“Despite the turbulence that the property and specialist lending markets faced last year, we expect high demand for our BTL products in 2023.
“Even in challenging times, MFS has continued to lend, and our strong relationships with our funding partners gives us the confidence and ability to provide funding certainty to brokers and borrowers.
“As such, when we say yes to a BTL mortgage or bridging loan, we mean it, and we look forward to helping even more borrowers with their requirements moving forward.”
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