Market Financial Solutions (MFS) has grown its team by 40% since the start of 2021 in response to increased demand from brokers and private clients.
The London-based bridging lender has hired extensively over the past four months, with the new employees consisting predominantly of business development managers, underwriters, loan managers, analysts and a new financial controller.
MFS’s rapid growth in headcount comes as the company recently relocated to a new office. It moved a short distance from its old location at Berkeley Square to a larger office at 46 Hertford Street, London, W1J 7DP.
As well as hiring many new faces, MFS has also secured two funding lines worth £350 million this year and recently changed its bridging loan criteria.
The lender has increased its maximum loan amount to £30 million, its maximum loan term to 24 months, and launched a new development exit product. The changes reflect the increased demand MFS is experiencing for larger loans, development exit loans, and deals with longer payment terms.
Paresh Raja, CEO of MFS, said: “A year ago, while in the midst of the first lockdown, it was difficult to understand quite what the future held for the bridging industry and for our business. However, I am delighted to say that MFS has enjoyed a really strong start to 2021, and the increased interest in bridging loans by the wider market is well reflected in the rapid expansion of the team.
“With stronger funding lines in place, a new office, and updated lending criteria to reflect current market demands, MFS is ideally placed to deliver fast bridging loans to private clients and brokers. Indeed, the 40% increase in staff since January means that we are able to handle more enquires and issue loans at pace, all the while ensuring our high standards and levels of customer service never drop.
“While the challenges of the pandemic are certainly not fully behind us yet, I am extremely confident that the coming months will be a productive, busy period for MFS.”
