Market Financial Solutions (MFS) has launched a suite of buy-to-let (BTL) mortgage products for brokers and direct clients.

The bridging lender has begun rolling out the products following a successful trial with 17 intermediary partners, which began in October 2021.

The firm has also said it will to “bolster its offering further throughout 2022 to best meet borrowers’ needs”.

The new BTL business is headed up by Mike Cook, who joined the company last year as chief mortgage officer.

He has more than 20 years’ experience in specialist mortgage lending and is “well equipped” to find the right product for brokers and their clients.

MFS’s BTL mortgages allow loans up to £3m at 75% LTV, portfolios up to £10m, foreign nationals, overseas companies and trusts, less-than-perfect credit, and strong yielding property types, such as large houses in multiple occupation, multi-unit blocks, and holiday lets.

The lender says it is offering a “super flexible” interest cover ratio (ICR), which can be combined with rolled-up and deferred monthly payments and deferred interest.

It says this can support prime London properties and help avoid failed transactions, delays, and lost fees.

The loans have two- or three-year terms and a bespoke approach.

The idea is for them to provide optionality and breathing space between bridge exits or initial purchases and future long-term financing.

Pay rates now start from 3.79%, with product fees from 1.5%, and a 1% commission.

MFS chief executive Paresh Raja says: “Following the success of the three-month pilot, we are delighted to announce the enhancement and full launch of our BTL mortgages.

“With more than 15 years’ experience in the bridging sector, we will be taking the speed, flexibility and high level of service that we are known for and applying these qualities within the BTL mortgage space.

“We expect high demand for the products and look forward to bolstering our offering even further throughout 2022 to best meet borrowers’ needs.”

MFS chief marketing officer Mike Cook adds: “The BTL mortgage space is a natural fit for MFS – it understands the BTL market inside out and will apply its experience in underwriting loans to ensure the right deals can be sourced for brokers and their clients.

“We experienced significant demand during the pilot, which demonstrated the need for products like ours, as well as the trust that brokers and BTL investors have in MFS to deliver the loans they require.”