Market Financial Solutions (MFS) has secured £250m in new funding from an institutional investor.
The funding, from an existing financial institution already backing MFS, comes as the specialist lender experiences significant demand across both its bridging products and buy-to-let (BTL) mortgages.
MFS now has multiple dedicated funding lines and the lender has indicated it will use the additional funding capacity to grow its loan book to £1bn by 2023. Large bridging loans and BTL mortgages are to be the lender’s two key areas of growth.
In January this year, MFS launched its BTL mortgage range to complement its bridging offering, and with 70 employees spread across two offices, the lender revealed it has further expansion plans for both product ranges.
MFS CEO, Paresh Raja, commented: “We’re delighted to have secured this additional £250m funding from one of our well-respected global investors. It will greatly accelerate growth across our bridging and BTL product lines, allowing us to fulfil our goal of increasing MFS’s loan book to £1bn by early 2023.
“That we have existing investors keen to increase their funding into MFS underlines the strength of the business. Not only are we experiencing high demand from brokers and borrowers – particularly for large loans, BTL mortgages and complex deals – but we also have highly efficient operations. We can lend quickly and with the lowest default rate on track, exemplifying the quality of the loans and management of them.”
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