MFS launches new bridging range up to 75% LTV

The London-based bridging lender is now offering rates from 0.59% and taking cases at a maximum LTV of 75%. MFS’ loans range from first and second charge residential and buy-to-let, to first and second charge commercial and semi-commercial.

MFS continued to process applications and deploy loans during the lockdown period. Between the introduction of lockdown measures on 23 March and mid-July, the company had provided £30 million of bridging loans to clients.

Paresh Raja, CEO of MFS, said: “At MFS, we have remained open for business throughout lockdown, ensuring our brokers and clients have access to bridging loans. We are, however, looking forward to returning to some semblance of normality as other lenders begin their return to the market, and we can all work together towards the recovery of the property market.

“I’m pleased to announce that today’s launch of our new rates and 75% LTV loans will mean borrowers and brokers are ideally positioned to take advantage of new property investment opportunities as we transition out of lockdown – these are our new rates for the new normal.”