The London-based bridging lender’s previous minimum loan size was £200,000 as it hopes this latest announcement will ensure that all borrowers will be able to access its services.
As well as lowering its minimum loan size, MFS is looking to expand its distribution to outside London and the South East as it looks to complete more deals in the Midlands.
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Paresh Raja, CEO at MFS (pictured above), said the decision to start offering loans from £100,000 was part of its ongoing commitment to ensure it was meeting the changing needs of the market.
“With access to in-house funds and an experienced team that has been built over the past decade, MFS is ideally positioned to serve the needs of brokers and borrowers.
“The UK property market remains competitive, and I’m proud to say that our new offering means that more borrowers and intermediaries will be able to benefit from our services.
“Importantly, this announcement is the first of many MFS will be making in 2019, and I look forward to providing further updates over the coming months.”