London, February 2023 – London-based specialist lender Market Financial Solutions (MFS) has today announced its partnership with finova Payment and Mortgage Services, joining the panel of over 75 lenders currently available to finova’s directly authorised (DA) broker network.
A trusted partner to over 450 brokers, finova Payment and Mortgages Services, formally known as MCI Mortgage Club, provides DA intermediaries access to its extensive panel alongside a competitive protection panel and procuration fees.
By working together, finova Payment and Mortgage Services and MFS will help more brokers gain access to a number of specialist products, allowing them to place and process complex cases which require bespoke, tailored solutions. MFS specialises in handling large loans at pace, for example, offering loans up to £50 million and terms between three and 24 months. They also work with applicants who are foreign nationals or have adverse credit, which finova Payment and Mortgage Services members will now be able to take advantage of through this new partnership.
MFS is currently sitting on more than £1 billion in funding and is on track to achieve its goal of growing its loan book to £1.5 billion in 2023.
Paresh Raja, CEO at MFS, said: “At MFS, we pride ourselves on being able to take on cases that are too complicated for many other lenders. Our experienced underwriters take an innovative approach to navigating the challenges each deal presents, always going the extra mile to ensure the best outcome for the broker and the borrower.
“We’re pleased to be working with finova Payment and Mortgage Services. It will ensure a greater number of brokers can access our products. It’s a great platform for brokers, and we’re confident that by adding our BTL mortgages and bridging loans to the available products we will better serve those more complicated corners of the market that are too often neglected by other lenders.”
Melanie Spencer, Business Development Director at finova Connect comments: “Partnering with Market Financial Solutions (MFS) will help our brokers unlock the additional support they need, whether it be for a particularly tricky case or if their client has a complex borrowing profile. With rising living costs having strained many households’ finances, MFS’ products will help brokers advise customers who are navigating a shift in their affordability.
“Recent volatility has pushed caseloads to the brink, and we have no doubt that our partnership with MFS will offer our broker network this added layer of support when they, and the end borrower, needs it the most.”
Find more information about MFS’ bridging loans and BTL offering.