Market Financial Solutions (MFS) has agreed over £300m of new funding, which will be used to accelerate the growth of its loan book across both existing bridging products and buy-to-let mortgages.
The funding comes from multiple global financial institutions following a period of due diligence.
It will use the additional funding capacity to grow its loan book to £1bn in the next 12 months. Large bridging loans and buy-to-let mortgages will be two key areas of growth.
Along with the new funding MFS will be adding new personnel to its team, which has doubled in size in the last year.
It will be recruiting across a range of bridging and buy-to-let roles, including experienced underwriters, business development managers and marketers, to help accelerate the deployment of its specialist lending solutions.
In January 2022, MFS launched its buy-to-let mortgage range to complement its bridging offering, providing buy-to-let loans for both vanilla and large, complex deals.
Paresh Raja (pictured), CEO of MFS, said: “We’re delighted to have secured this new funding from some very highly regarded global financial institution.
“It will greatly accelerate growth across all our product lines. In particular, it means MFS can deliver buy-to-let mortgages to more and more clients – the funding will also allow us to bolster our reputation for handling very large loans and taking on the quirkiest bridging and buy-to-let cases that the market has to offer.
“It’s a hugely exciting development for MFS, putting us in a position of real strength. Following a successful 2021, in which our team grew rapidly, we will now look to hire the best talent across the bridging and buy-to-let markets.
“In turn, we will reinforce the quality of the products and services that we deliver to brokers and private clients.
“We have bold ambitions, wanting to increase our loan book to £1bn by early 2023. We’re very confident that between our bridging, large loan and buy-to-let products, and with such strong funding lines and great personnel in place, we have all the components in place to meet and then surpass our goals.”
