Market Financial Solutions (MFS) has secured a major new funding line from a global investment bank.
The additional funds will help the London-based bridging lender as it aims to double the size of its loan book over the next 12 months. MFS has already received in excess of £100m worth of loan applications in the opening six weeks of 2019.
The timing of this facility has coincided with a ‘significant’ office and staff expansion as well as their recent decision to reduce their minimum loan amount from £200,000 to £100,000 to cater for growing regional demand.
MFS delivers bridging loans across multiple property types, including residential, commercial, semi-commercial and multi-unit blocks. It also provides loans for HMO refurbishment projects, auction purchases and developer exits on both first and second charge basis.
Paresh Raja, CEO of MFS, commented: “We are delighted to have secured this significant new funding line, which puts us in a position of real strength as we look to expand further over the months ahead.
“We will use our diverse sources of funds to continue offering tailored bridging solutions for property investors. With competitive rates, capital ready to deploy, and an ability to underwrite complex deals with fast, bespoke solutions – the MFS team is looking forward to hitting many new milestones in 2019, as well as working with a growing community of brokers to deliver great results for their clients.”