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MFS secures £500m funding line for BTL and bridging growth

  • 09/03/2023
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MFS secures £500m funding line for BTL and bridging growth
Market Financial Solutions (MFS) has obtained £500m of institutional funding from its investors to back its buy-to-let and bridging lending.

Of the funding amount, £200m will be ringfenced to support the growth of its buy-to-let proposition. 

MFS said since launching into the buy-to-let market in January 2022, it had seen “strong demand”.

The firm piloted buy-to-let mortgages to select brokers in October 2021, and in an interview with this publication last year MFS’ chief mortgage officer Mike Cook said that the company was looking to recruit significantly in the buy-to-let space

The investment is expected to give MFS greater lending capacity and diversify its capital base. It will also ensure that the lender is able to work with brokers and their clients to source buy-to-let and bridging finance. 

This year, MFS hopes to grow its overall loan book to £1.5bn, a goal which was revised up from £1bn after it announced it was already nearing the previous target. 

Paresh Raja, CEO of MFS, said: “Following the success of our buy-to-let 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 buy-to-let products in 2023.” 

He added: “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 buy-to-let mortgage or bridging loan, we mean it, and we look forward to helping even more borrowers with their requirements moving forwards.” 

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