The offer is exclusive to loans brokered by intermediaries
Specialist finance provider Market Financial Solutions (MFS) has announced a full refund on valuation fees for bridging customers with cases that are agreed before the end of March and complete before the end of April.
The reimbursement process will be completed within 28 days post the bridging loan drawdown. This fee exemption will be applicable across all MFS bridging products, covering residential, commercial, and semi-commercial, up to a maximum valuation of £10 million.
The lender, which provides large and complex loans up to £50 million with terms between three and 24 months, said the refund offer is exclusive to loans brokered by intermediaries. It will cover physical valuations, with the reimbursement limited to one standard lender valuation per security property.
To be eligible for the offer, borrowers must sign and return their decision in principle (DIP) document by March 31 and the loan must be officially drawn down by April 30, 2024.
“There is a palpable sense that the property market has turned a corner after a turbulent two years,” said Paresh Raja (pictured), chief executive at Market Financial Solutions. “Rates have settled and data suggests that house prices have levelled off – there are signs that buyer demand and price growth are actually returning. So, now is the right time for MFS to inject a little more impetus into the market, rewarding our brokers and borrowers by refunding their valuation fees.
“Putting that money back in borrowers’ pockets will not simply provide a nice pick-me-up. It is capital they can invest into their properties, enabling them to keep pace with market trends and maximise the quality of their assets, which is crucial in the current climate.”
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