MFS secures £300m funding as it targets £1bn loan book by 2023

The funding comes from multiple global financial institutions and MFS will use the additional funding capacity to grow its loan book to £1 billion 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, in the coming weeks 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. Now, alongside its bridging loan products, MFS offers buy-to-let loans for both vanilla and large, complex deals.

The buy-to-let mortgages are suitable for clients in complex situations, as well as corporate or overseas structures, including offshore companies, trusts and foreign residents. MFS will also lend for a wide variety of strong yielding property types, such as large HMOs, multi-unit blocks and holiday lets.

Paresh Raja, CEO of MFS, said: “We’re delighted to have secured this new funding from some very highly regarded global financial institutions. It will greatly accelerate growth across all our product lines. In particular, it means MFS can deliver BTL 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 BTL 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 BTL 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 £1 billion by early 2023. We’re very confident that between our bridging, large loan and BTL 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.”