Market Financial Solutions (MFS) works closely with brokers on a daily basis. After all, our bridging loans are expertly crafted to meet the exact needs of their clients.
Ever since being founded in 2006, MFS has made collaboration a priority. As a result, our broker network is constantly expanding; we have become a top choice for intermediaries seeking bridging loans. This has been particularly true this year.
COVID-19 has proved challenging for brokers and intermediaries. The decision by big banks to withdraw products from the market during the lockdown posed problems. Suddenly, brokers could not access the same volume of products and services they were used to.
Here at MFS, we stood by our brokers. As an expert in commercial bridging loans and residential bridging loans, we have continued to quickly issue finance where it is needed. By staying committed to the needs of our clients, MFS is proud have issued over £40 million worth of loans since 23rd March 2020.
With the easing of social distancing measures, the property market is back open for business. However, these are still challenging and uncertain times. That’s why it is vital for bridging lenders to work closely with brokers in the coming months. Doing so will encourage property investment – a vital part of the UK’s post-pandemic recovery.
So, what can lenders do?
Taking advantage of fast, tailored finance
To understand how lenders can support brokers, it is important to know the benefits of using bridging loans. Here are three of the main ones.
The first is the speed at which they can be deployed. At MFS, we are popular among brokers because of our track record for issuing loans within days of receiving an inquiry. This is because of our access to in-house credit lines. Over the years, we have established strong networks with investors and banks keen to work with MFS. As a result, our funding lines are always healthy.
Not having access to finance is hugely damaging for property buyers. Deals collapse, chains break down, and deposits are lost. There is also the risk of being gazumped by a rival buyer. That’s why brokers working to a tight deadline get in touch with MFS.
The second advantage is flexibility. Specialist finance providers typically work with brokers to understand the needs of each case. This is an important point. Too often, property buyers feel neglected by high street banks. Their application process is simply too rigid. They are not equipped to handle complex cases. And the more complex a case, the longer it will take for a loan to be issued.
At MFS, no case is too complicated. Our team of expert underwriters work with international and domestic clients. We know how to navigate different regulatory frameworks. This ensures our bridging loans are issued quickly.
The final advantage is creativity. Specialist finance providers are naturally creative. Unlike big banks, their size means they can make bold decisions quickly. Our underwriters are constantly encouraged to think outside of the box. Doing so works to the ultimate benefit of our brokers and clients. It also helps us refine our craft and not become complacent.
Creative loan solutions
By focusing on speed, flexibility and creativity, lenders will be best positioned to meet the needs of brokers. This is why MFS has launched a £60 million COVID-19 recovery fund. This will ensure funding is on-hand for those needing bridging loans to complete on a property transaction in 2020.
If you are a broker interested in the MFS COVID-19 recovery fund, get in touch today for more information by visiting our contact us page.