MFS, which provides both bridging loans and buy-to-let (BTL) mortgages, said it listed on Criteria Brain, formerly Criteria Hub, in response to increased reports that brokers are struggling to place complicated cases.
In a recent survey of 100 brokers in the UK, 55% said they regularly come across difficulties when trying to find a solution for first-time landlords, while 50% stated that adverse credit posed problems for BTL applicants.
In January 2022, MFS added BTL mortgages to its bridging loan products. The mortgages are suitable for clients in complex situations, as well as corporate or overseas structures, including offshore companies, trusts, and foreign nationals.
Read more: MFS launches BTL products.
“At MFS, we’re proud of the fact that we will take on cases that are too complicated for many other lenders. Our experienced underwriters take an innovative approach to navigating the challenges each deal presents, always going the extra mile to ensure the best outcome for the borrower,” Mike Cook, chief mortgage officer at MFS, said.
“We are excited to be working with Criteria Brain to ensure greater access to our products. It’s a great platform for brokers, and we’re confident that by adding our BTL mortgages to the available products, we will better serve those more complicated corners of the market that are too often neglected by other lenders.”
Neil Wyatt, sales and marketing director at Mortgage Brain, said that there is a real need for more specialist lenders able to handle complex cases.
“Speed and flexibility are vital for brokers. That’s why we’re always looking to expand our platform and provide a greater range of lenders that can deliver the right product for the borrower in a timely manner,” Wyatt said.
