MFS bags £200m in institutional funding

MFS said that the additional funding was an increase to a “currently deployed funding line”. The specific investor was not disclosed.

The lender has secured several institutional funding rounds this year, including £125m in institutional funding in August and £250m in funding in June.

MFS said that with its “diversified, committed and scalable funding lines”, it was on track to grow its loan book to £1.1bn in 2023, with large bridging loans and buy-to-let mortgage being two areas of key product growth.

The lender also entered the buy-to-let market earlier this year, piloting to select brokers in October last year, and then undergoing a full product launch.

‘MFS always commits to deals’

Paresh Raja (pictured), CEO of MFS, said: “No one needs to be told that the property market and lending sector are navigating some testing waters at present.

“For MFS, the strength and diversification of our funding is fundamental to the way we support brokers and borrowers – namely, we can offer assurances of our ability to handle large and complex cases, and, crucially, that we always commit to deals.”

He added: “When we say “yes”, we always mean “yes”, and that’s so important in the current climate.”

Raja continued that the support of existing and new investors “underlines the quality and strength of MFS’s products and ways of working”.

He noted that demand for specialist finance products was “high” as people sought the “best option to combat the current macroeconomic trends” and it was “ideally placed” to meet this demand.

MFS was founded in 2006 and now has over 80 employees across two offices.