Market Financial Solutions (MFS) has secured £400 million of new institutional funding.
The new funding, which comes from an institutional investor, will be applied across MFS’s bridging finance products.
Bridging loan applications (+13.1%) and completions (+11.8%) both rose notably in Q1 2023 when compared to the final quarter of last year, according to data from the Association of Short-Term Lenders.
London-based MFS has seen a spike in enquiries from brokers in 2023. It says it on track to achieve its goal of growing its overall loan book to £1.5 billion in 2023.
Paresh Raja, CEO of MFS, said: “I am delighted to announce this new funding, which comes at an opportune moment. The specialist finance sector is experiencing an uptick in demand as high-street lenders increase rates and pull products – MFS is busier than ever, and this institutional investment will fuel our continued growth.
“The property market is obviously facing significant challenges, with higher rates causing would-be buyers to pull out of or delay purchases. But with these challenges come opportunities, and there are many investors stepping in to seize properties at a discount as their competition hesitates. Those investors are turning to lenders like MFS for the speed, flexibility and optionality they need right now.”