Mortgage lender Market Financial Solutions (MFS) has secured £125 million of institutional funding from an investment bank.
After this development the lender is said to be on track to grow its loan book to £1.1 billion in 2023.
It said this latest funding line was required to satisfy demand for its bridging and buy-to-let products.
Paresh Raja, chief executive of MFS, said: “We’re delighted to have secured this additional £125 million funding from leading financial institutions.
“This will support the growth across our bridging and BTL product lines, and keep us on track to meet our goal of reaching a £1.1 billion loan book for 2023.
“Support of existing and new investors to increase their funding for MFS underlines the quality and strength of the platform.
“Throughout 2022, we have continued to experience high demand from brokers and borrowers – particularly for large loans, BTL mortgages and complex deals – and we continue to service the demand with highly efficient processes. We lend quickly and maintain the highest quality of underwriting and loan management, delivering market leading standards.”
In January 2022 MFS launched its BTL mortgage range to complement its bridging offering.
With more than 80 employees spread across two offices, the lender said it has further expansion plans for both its bridging and BTL products.