MFS Announced Rollout of BTL Pilot

MFS Unveils Buy-to-Let Pilot Programme

MFS, a leader in UK financial services, has launched its buy-to-let (BTL) pilot programme. This initiative represents a major step forward in their BTL strategy, drawing significant interest from property-focused financial advisers. These experts view the programme as a potential game-changer for investment strategies in the evolving market.

Transforming the Buy-to-Let Landscape

Committed to innovation, MFS aims to reshape the BTL sector with its new programme. It is designed to address the evolving needs of landlords and property investors, offering a streamlined and efficient lending process. This approach promises a seamless experience for clients navigating the complexities of buy-to-let financing.

A Testing Ground for Innovation

The pilot programme serves as a platform for trialling advanced financial tools. MFS intends to redefine industry standards while delivering an enhanced client experience. Financial advisers specialising in buy-to-let portfolios are particularly interested in the programme’s potential. They believe it could provide innovative solutions for property investors’ unique challenges.

Simplifying Borrowing with Expertise

MFS aims to empower clients through simplified borrowing processes by combining its financial expertise with a forward-thinking mindset. The programme also provides access to valuable market insights, helping property investors make informed decisions. This blend of innovation and expertise positions MFS as a key partner for landlords and advisers.

Leading the Way in Specialised Lending

MFS’s entry into the BTL market showcases its adaptability and commitment to financial progress. As a pioneer in specialised lending, the firm sets a benchmark for innovation in the UK mortgage industry. Financial advisers are eager to leverage this programme’s potential benefits, ensuring their clients navigate the buy-to-let market effectively.

Supporting the Future of Property Investment

This BTL pilot programme underscores MFS’s dedication to offering client-centric solutions. It reflects their mission to advance the UK mortgage market while supporting landlords and property investors in achieving long-term success.

MFS announced rollout of BTL pilot | What can we expect?

Market Financial Solutions (MFS), with 15 years of experience, has entered the buy-to-let (BTL) mortgage market. This expansion begins with a soft launch, showcasing the company’s commitment to innovation.

Initial Rollout and Leadership

MFS is piloting its BTL products with selected brokers ahead of a wider market launch in 2022. The initiative is led by Mike Cook, an expert with over 20 years of mortgage lending experience. Cook’s impressive track record includes launching Vida Homeloans and holding senior roles at Bank of Ireland, ING Direct, Lehman, and Kensington.

Tailored Solutions for Complex Needs

The new BTL offering is specifically designed for clients with unique financial situations. MFS supports borrowers using corporate structures or overseas entities, such as offshore companies and trusts. Additionally, the lender provides solutions for high-yield properties, including large Houses in Multiple Occupation (HMOs) and holiday lets.

Flexible Lending Features

MFS introduces an interest cover ratio (ICR) of 80%, ensuring borrowers can access appropriate funding without complications. Borrowers benefit from rolled-up and deferred payments, capped interest rates of up to 1%, and top-slicing options. These features aim to prevent delays and ensure transactions succeed, particularly for prime London properties.

Competitive Terms and Rates

Clients can choose between two- and three-year loan terms, offering flexibility during transitional periods. Fixed rates start at 4.99%, with product fees beginning at 1.75%. Brokers are incentivised with a 1% commission, aligning interests across the transaction.

Supporting the UK Mortgage Market

MFS’s new proposition aims to reduce failed transactions while meeting the needs of complex borrowers. MFS demonstrates its commitment to delivering tailored solutions within the competitive UK buy-to-let mortgage landscape by addressing market gaps.

Seventeen broker firms are participating in the initial pilot in Q4 2021. MFS plans to add more firms as the pilot progresses before the full BTL mortgage range launch in 2022.

Mike Cook, Chief Mortgage Officer at MFS

Paresh Raja, CEO of MFS, said, “This is a hugely exciting moment for MFS. Building on our 15-year experience as a specialist lender, we’re bringing speed and flexibility to the BTL space. We look forward to working with several brokers during this initial pilot before the full market launch next year.”

Mike Cook, MFS’s Chief Mortgage Officer, added, “The transition into the BTL mortgage space is a natural fit for MFS. We understand the BTL market and will use our experience to help brokers with complex clients. I look forward to driving this pilot forward and am confident it will be successful in the coming months.”

MFS Announced Rollout of BTL Pilot | Connect mortgage network part

Within the domain of mortgage networks, Connect plays a crucial role. It drives the progression of mortgage expertise throughout its network, especially focusing on buy-to-let portfolios. Our dedication extends beyond traditional mortgage offerings. We actively promote and facilitate the integration of specialised lending solutions.

We are thrilled to announce an update that is aligned with our commitment to industry advancements. Specialised lender MFS has rolled out the BTL Pilot within our network. This strategic move aligns with our mission. It enhances the depth of financial advising and underscores the importance of comprehensive product knowledge. Awareness of eligibility criteria is crucial, especially in the context of the MFS rollout.

These unique financial products prompt our advisors to engage clients meaningfully. They highlight the potential of entering the realm of financial advising. Comprehensive product knowledge and awareness of eligibility criteria are vital. This is achieved through our lender digital learning program. Participation earns professionals Continuous Professional Development (CPD) credits.

Together, these initiatives significantly enhance the advice and services provided to our advisors’ clients. The “Specialised lender MFS Announced rollout of BTL Pilot” further strengthens this effort.

Credits: Warren Lewis

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