The lender introduced the offer of a full refund on valuation fees for bridging customers in February for cases agreed before the end of March and completed before the end of April.
The refund will be issued within 28 days of the drawdown of a bridging loan, and the waiving of valuation fees will be applied across all its bridging products. This covers residential, commercial and semi-commercial.
To qualify for the deal, brokers must sign and return their decision in principle (DIP) documents by the end of April 2024, and the loan must be drawn down by the end of May.
Paresh Raja (pictured), CEO of MFS, said: “Our refunds on valuation fees have proven popular among brokers and bridging clients. So, as the property market becomes more active, it felt only right to extend the offer for another month.
“House prices are rebounding and we’ve seen a clear uptick in demand as the UK property market enjoys a positive start to 2024. However, while the market appears to be bouncing back well, we cannot become complacent. Lenders must continue to support brokers and borrowers as best they can, and we expect the extension of our offer to help maintain the positive momentum that is permeating throughout the property sector at present.”
MFS recently hired Liza Campion as national accounts head, and she will help deliver products to more clubs, packagers and networks.
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