It also adds a new product range that allows borrowers to choose their product fee
Specialist lender Market Financial Solutions (MFS) has announced a reduction in rates across its residential bridging and buy-to-let mortgage product ranges.
The adjustments cover variable bridging rates, impacting both fixed and variable products for residential and commercial property types. MFS's residential BTL rates have also seen reductions across their entire range.
In addition to the rate cuts, the lender has introduced a new suite of products that enables borrowers to tailor their product fee based on individual requirements. Borrowers now have the flexibility to choose between a 2%, 4%, or 6% fee across all four tiers of loans.
Moreover, MFS customers can leverage increased loan sizes through features such as deferred interest, rolled-up interest, and top-slicing.
“We are kickstarting 2024 with new and improved rates, supporting brokers and their clients as they embark on their property investment plans for the year ahead,” Paresh Raja (pictured), chief executive at Market Financial Solutions, said.
“Reducing rates is just part of the picture, however. Flexibility remains equally important – we will continue to deploy various methods to enable borrowers to get their optimum loan sizes and repayment structures.
“At MFS, we’re confident that the property market will continue to demonstrate great resilience and experience significant demand in 2024, and we’ll continue to strive to deliver the very best products and service to brokers seeking out bridging loans and BTL mortgages.”
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