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MFS Announced Rollout of BTL Pilot | Specialised Lending

MFS Announced Rollout of BTL Pilot

MFS Announced Rollout of BTL Pilot


In our previous article, “Mortgage AR Network | Great News: Connect Mortgage Network adds MFS To Panel | 2021, we welcomed MFS to our panel. Today, it’s about MFS Announcing the Rollout of their BTL Pilot.

MFS, a pioneering leader in financial services, has announced the launch of its BTL pilot programme. This marks a pivotal moment in their buy-to-let (BTL) strategy. Financial advisers specialising in property investments are closely monitoring this development. They recognise its potential impact on investment strategies.

MFS aims to revolutionise the BTL landscape in line with its commitment to innovation. Its pilot programme is designed for the evolving needs of property investors and landlords and offers a streamlined and efficient lending process.

MFS views this pilot as a testing ground for cutting-edge financial tools. They seek to redefine industry standards and enhance the overall client experience. This programme is particularly intriguing for advisers specialising in buy-to-let portfolios. They anticipate it will introduce novel solutions to address property investors’ unique challenges.

By combining expertise in financial services with a forward-thinking approach, MFS aims to create a robust platform. This platform simplifies the borrowing process and empowers clients with valuable market insights. It helps them make informed decisions.

MFS’s entry into the BTL sector reflects its adaptability and commitment to financial innovation. This positions MFS as a trailblazer in the specialised lending landscape. Financial advisers are eager to leverage these potential benefits for their clients. They navigate the buy-to-let market with the support of MFS’s new initiative.

Welcome to the “MFS Announced Rollout of BTL Pilot!”

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

Building on its 15 years of experience, Market Financial Solutions (MFS) is entering the buy-to-let mortgage space. The soft launch of its new BTL proposition marks this entry.

MFS is testing its new products through several brokers before a wider launch in 2022. With over 20 years of mortgage lending experience, Mike Cook leads the new BTL business. He previously helped launch Vida Homeloans and held senior roles at Bank of Ireland, ING Direct, Lehman, and Kensington.

MFS’s BTL mortgages cater to clients in complex situations, including corporate or overseas structures like offshore companies and trusts. They also lend for various high-yield property types, from large HMOs to holiday lets.

The London-based lender offers a super flexible interest cover ratio (ICR) of 80%. This combines with rolled-up and deferred monthly payments, interest up to 1%, and top-slicing. These features ensure the right loan size, even for prime London properties, preventing failed transactions and delays.

The loans come with two- and three-year terms, providing options and breathing space between bridge exits, initial purchases, and long-term financing. Fixed rates start from 4.99%, with product fees from 1.75% and 1% broker commission.

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.

Paresh Raja
Paresh Raja, CEO of 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
Mike Cook, Chief Mortgage Officer at MFS,

Mike Cook, Chief Mortgage Officer at MFS, 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 in line 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.

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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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