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Markets Financial Solutions (MFS) has launched a new range of floating rate bridge products to offer borrowers greater choice in the current economic climate.
As of 1 March 2023, this specialist lender offers bridging loans at the Bank of England base rate plus 0.55%. Variable products are available across the entire bridge range, with up to 75% loan-to-value (LTV) available.
MFS has launched floating interest rates to allow more flexibility across its bridge range. Fixed interest rates will continue to be available along with new floating interest rate products offered to both new and existing customers.
Founded in 2006, MFS specializes in expediting the processing of large and complex cases, offering loans of up to £50 million in as little as three days over terms of 3 to 24 months. We can lend to borrowers with complex backgrounds across different types of real estate and can be underwritten from day one.
MFS has now raised over £1bn and is on track to reach its goal of increasing outstanding loans to £1.5bn by 2023.
Paresh Raja CEO MFSMore“Interest rates have dominated the debate across the real estate and lending sectors over the past year. MFS’ primary goal is to support borrowers and brokers by offering innovative and dynamic products that are volatile. The introduction of bridge interest rates is a prime example of this, providing more choice and flexibility when it is sorely needed.
“There are many borrowers who don’t want to stick to fixed rates and prefer products that track the base rate if it returns after a series of rate hikes by the Bank of England. Floating rate caters to borrowers with different desires, needs and outlooks, we are very excited to bring this to market and as ever we are offering brokers and borrowers what they really need from professional lenders. We will continue to look for ways to improve our services in line with what we are doing.”
The London-based lender also launched a range of buy-to-letter (BTL) mortgages in January 2022. MFS has a target of reaching his £500m in BTL mortgages issued by the end of 2023.