More brokers gain access to the lender's specialist products
Specialist lender Market Financial Solutions (MFS) has announced its partnership with finova Payment and Mortgage Services, joining the latter’s panel of over 75 lenders.
finova Payment and Mortgages Services, formally known as MCI Mortgage Club, provides directly authorised intermediaries access to its panel, alongside its protection panel and procuration fees.
The team-up allows finova and MFS to provide more brokers access to a number of specialist products, allowing them to place and process complex cases which require bespoke, tailored solutions.
Offering bridging loans and buy-to-let mortgages, MFS specialises in handling large loans at pace, with loans up to £50 million and terms of between three and 24 months. The lender also works with foreign nationals or borrowers with adverse credit. MFS, which received The Blacks Solicitors Award for Bridging Lender of the Year at the Mortgage Introducer Awards 2022, is on track to achieve its goal of growing its loan book to £1.5 billion in 2023.
“At MFS, we pride ourselves on being able to take on cases that are too complicated for many other lenders,” Paresh Raja (pictured), chief executive at Market Financial Solutions, commented. “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. 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, added that partnering with MFS would help their brokers receive the additional support they need, whether it be for a particular case or if their client has a complex borrowing profile.
“With rising living costs having strained many households’ finances, MFS’s products will help brokers advise customers who are navigating a shift in their affordability,” Spencer said. “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, need it the most.”
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