Market Financial Solutions (MFS) has secured £500m of new institutional funding.
The funding, which is from various institutional investors, will allow the business to expand its lending activity across both the buy-to-let (BTL) and bridging markets.
From this new funding, at least £20m will be ring-fenced to boost the company’s BTL proposition as it continues to grow that area of the business.
MFS says the new line of funding will ensure it is in a position to work effectively with brokers and borrowers who are seeking BTL mortgages and bridging finance in the current climate.
The specialist lender also notes that it is on track to achieve its goal of growing its overall loan book to £1.5bn in 2023.
MFS chief executive Paresh Raja says: “Following the success of our BTL product since the launch last year, this additional funding will further increase our capacity.”
“We continue to support borrowers and brokers by providing certainty and flexibility in the current climate of high inflation and rising interest rates.”
“Despite the turbulence that the property and specialist lending markets faced last year, we expect high demand for our BTL products in 2023.”
“Even in challenging times, MFS has continued to lend, and our strong relationships with our funding partners give us the confidence and ability to provide funding certainty to brokers and borrowers.”
