Market Financial Solutions has introduced new rates for its bridging loans and increased its maximum LTV to 75%.
The lender — which has provided £30m of bridging loans between the introduction of lockdown measures and mid-July — is now offering rates from 0.59% to support increasing demand for specialist finance.
MFS provides first- and second-charge loans for residential, BTL, commercial and semi-commercial.
“At MFS, we have remained open for business throughout lockdown, ensuring our brokers and clients have access to bridging loans,” said Paresh Raja, CEO at MFS (pictured above).
“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.”
In April, MFS released a guide on how Covid-19 is affecting the UK property market.
It provides an overview of the government’s measures to support businesses and investors, as well as a review of UK property demand in 2020 and the current state of the housing market.
Source: Bridging & Commercial, July 29 2020.