MFS loan book nears £1bn

The specialist lender has attributed this to the property assets worth £1.5bn that it has lent against. It set a target to reach a £1.1bn loan book by early this year, but has now increased this to £1.5bn by the end of 2023. 

MFS launched its buy-to-let offering at the start of last year and hopes to complete £500m in buy-to-let loans by this year’s end. 

The lender has also doubled its headcount and now has more than 100 employees. 

MFS is a specialist buy-to-let lender which deals with complex cases and offers loans up to £50m. 

MFS: ‘Proud of what the business has achieved’

Paresh Raja (pictured), CEO at MFS, said: “Milestones like this are not why we do what we do, but they are certainly important markers of progress. Ultimately, the value of the property assets we have secured charges on, and the rapid growth of our loan book – not to mention our team – all underlines the success we have enjoyed in recent years. We’re all proud of what the business has achieved.  

“There is no room for complacency though. The current economic climate is testing, and the property market will undoubtedly face challenges in 2023. So, our focus remains on the delivery of market-leading products – ones that have speed and flexibility at their core – and an exceptional customer service. This year promises to be another important one for MFS, and I am excited to see how much more we can grow.”  

He added: “We have really strengthened our team of business development managers (BDMs) in recent years. They cover a number of regions across England and Wales, and are attending various events nationwide to give brokers the best lending experience. I would encourage brokers to meet with BDMs face-to-face throughout 2023 to talk through their clients’ needs and any complicated cases.”