Market Financial Solutions (MFS) has rolled out a new initiative that promises to put money back into the pockets of its customers. It has unveiled a scheme where it will refund valuation fees in full for qualifying customers. This move is designed to stimulate activity in the property market, which has seen its share of ups and downs over the past couple of years.

MFS’s offer is straightforward: customers who agree to a bridging loan before the end of March and complete the transaction before the end of April will receive a full refund on their valuation fees. This refund will be processed within 28 days following the loan drawdown, providing a significant saving on upfront costs associated with securing a bridging loan.

The refund initiative covers a wide range of properties, including residential, commercial, and semi-commercial, for valuations up to a whopping £10 million. However, it’s important to note that this offer is exclusively available to loans arranged through brokers and applies to one standard lender valuation per security property.

Eligibility and Timelines

To be eligible for this offer, borrowers must act quickly. They need to sign and return their Decision in Principle (DIP) document by the end of March 2024 and ensure that their loan is drawn down by the end of April 2024. This timeline provides a clear window of opportunity for those looking to take advantage of the offer.

A Boost for the Property Market

Paresh Raja, the CEO of MFS, expressed optimism about the current state of the property market, “There is a palpable sense that the property market has turned a corner after a turbulent two years. Rates have settled and data suggests that house prices have levelled off – there are signs that buyer demand and price growth are actually returning. So, now is the right time for MFS to inject a little more impetus into the market, rewarding our brokers and borrowers by refunding their valuation fees.”