Market Financial Solutions has doubled its bridging loan funding drive to £40m
London-based bridging loan specialist Market Financial Solutions (MFS) has announced it is to double the amount of funding on offer for fledging property developers and investors in its ‘industry-first’ investment drive.
Its FlipFinance2017 initiative, which launched last May, is targeted at first and second-time home buyers who are looking to fund short-term refurbs and restoration jobs at their properties.
Launched following alarming findings which suggested that 25% of homeowners were willing to refinance their current homes up to three times to complete their projects, the initiative aims to give home homeowners and investors access to fast, secure finance through bridging loans from £200k to £1m.
Now the bridging finance provider has announced that its initial tranche of £20m will be doubled after attracting ‘overwhelming investor demand’ in its first eight weeks, with £40m funding now on offer through to June 2018.
MFS Chief Executive Officer Paresh Raja, said: “The huge demand we have seen for FlipFinance2017 underlines the pressing need for innovative finance within the UK’s property market.
“With such tremendous value locked in vacant properties across the nation and with too many investors still lacking the financial options necessary to turn them around, this section of the property market risks lying dormant.
“In order to further support these vital refurbishment and restoration projects, MFS is pleased to announce that it has doubled the size of its industry-first FlipFinance2017 funding drive.”
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