This places it on track to achieve its goal of growing its loan book to £1.5bn by the end of the year.

The lender increased its loan book target for 2023, thanks to a successful performance at the end of 2022, and to the over £1bn it currently has available for funding.

For BTL, MFS has a target to reach £500m of mortgages issued by the end of 2023.

The London-based firm also revealed it doubled its employee headcount since the start of 2022 — it now numbers more than 100 employees.

Paresh Raja, CEO at MFS (pictured above), said: “Milestones like these are not why we do what we do, but they are certainly important markers of progress.

•   Hilltop launches real estate funding and management platform
•   2020 Budget date announced: what is the specialist finance industry hoping for?
•   UKAA launches best practice guide for BTR industry

“Ultimately, the value of the property assets we have secured charges on, and the rapid growth of our loan book — not to mention our team — all underline the success we have enjoyed in recent years, and we’re all proud of what the business has achieved.

“There is no room for complacency though — the current economic climate is testing, and the property market will undoubtedly face challenges in 2023. 

“So, our focus remains on the delivery of market-leading products — ones that have speed and flexibility at their core — and an exceptional customer service. 

“This year promises to be another important one for MFS, and I am excited to see how much more we can grow.”