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MFS releases ‘bridge fusion’ product and cuts rates

  • 03/06/2024
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MFS releases ‘bridge fusion’ product and cuts rates
Market Financial Solutions (MFS) has brought out a ‘bridge fusion’ product that combines a bridging loan with a longer-term buy-to-let (BTL) mortgage.

MFS’ bridge fusion product is a two-year tracker loan with an annual interest rate, and can be extended for a third year if needed. 

The company said this would allow borrowers to wait for market conditions to improve during periods of uncertainty and instability. 

The pay rates start from 3.55% plus base rate per annum, with a loan to value (LTV) of up to 75%. The maximum loan size is £20m. 

The product is available for loans against commercial, mixed use and residential properties. 

The specialist lender has also reduced rates within its core bridging range by up to 0.11%. 

The product also allows for the use of deferred interest, rolled-up interest and top slicing. These options are also available across MFS’ BTL mortgage range.

Paresh Raja, CEO of MFS, said: “Optionality has become a keen focus for MFS in recent years. We’re continuing to expand our offering across both our bridging and buy-to-let mortgage ranges, as well as reducing rates across the board, giving brokers and their clients much-needed choice as they seek the right product for their needs.

“This includes a blend of tracker and fixed terms, as well as the term length. The new bridge fusion product is a perfect example of our desire to keep evolving, and the timing makes complete sense.” 

He added: “As banks are slowing down with their lending activities in a year, with potentially over £50bn of commercial refinances required, we are reducing our bridging rates and launching new products in order to ramp up. 

“The general election will create more uncertainty over the coming weeks and months. We all knew it was coming, but few expected the vote to come in early July – and although it was formed before Rishi Sunak’s surprise announcement, our bridge fusion product is designed to help borrowers navigate such twists and turns in the market with greater confidence.” 

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