MFS reports lending £22m in December
Market Financial Solutions (MFS) lent £22m worth of bridging loans in December 2020.
The loans were mainly used to support property investors who were encountering delays from other lenders.
Meanwhile, other investors were seeking fast access to finance to take advantage of the stamp duty holiday, according to MFS.
In addition, the bridging lender recorded its strongest November on record, deploying £45m worth of loans.
Back in August 2020, the lender launched a £60m COVID-19 recovery fund, which it plans to top up during Q1 2021.
Paresh Raja, chief executive of MFS, said: “December can sometimes be a quieter month, with transactions winding down over the festive period, but not in 2020.
“With pent up demand created by two lockdowns and the stamp duty holiday running out, we received a significant number of enquiries from those who were facing lengthy delays from, or had been let down by, other lenders.
“Even with the challenges posed by the pandemic, I am pleased to say that these loans were able to be arranged within days of the initial enquiries being received.
“And we expect to remain very busy in the months ahead – positively, the MFS team is ready to support those in need of fast, bespoke finance in 2021.”