Paresh Raja, CEO at MFS

MFS introduces title insurance across bridging products

MFS has introduced title insurance across a number of its residential bridging and BTL mortgage products.

Title insurance is a form of indemnity insurance aimed at reducing the need to complete the property searches, investigations and checks typically required at the underwriting stage and throughout conveyancing process.

The lender is initially launching title insurance, in partnership with Westcor International, for residential BTL remortgages and bridging refinancing facilities up to a loan size of £1m, with recently built properties, certain foreign nationals, and offshore corporate structures included, with an expectation to introduce it across its wider products in the future.

Paresh Raja, CEO at MFS (pictured above), said: “Using Westcor’s title insurance proposition is very useful in reducing the time-consuming tasks involved in the initial underwriting of a loan, as well as accelerating the conveyancing process thereafter.

“We’re confident that brokers and borrowers will respond well to this addition to MFS’s offering, and we expect to make title insurance more widely available across our bridging and BTL mortgage products in the coming year.”

Leave a comment