The Bridging and Development Lenders Association (BDLA) has today issued a statement regarding the recent news that Market Financial Solutions has made an application to enter administration.
The BDLA acknowledges the difficult situation currently facing the management, staff, and clients of Market Financial Solutions. We understand that this decision was taken by the Market Financial Solutions board as a protective measure to safeguard the interests of all stakeholders, including employees, borrowers and investors.
Adam Tyler, CEO of the BDLA, commented:
“Our immediate thoughts are with the team at Market Financial Solutions, as well as the many brokers and borrowers who have built long-standing relationships with the firm over nearly two decades. Market Financial Solutions has been a prominent and active participant in our sector, and we are encouraged by the management team’s proactive steps to seek a structured environment through administration to protect the business’s assets and ensure the continuity of loan management and servicing.”
"The specialist lending sector remains robust, well-capitalised, and continues to provide vital liquidity to the UK property market," Tyler continued. "While any instance of a lender entering administration is significant, it is important to distinguish between a systemic industry issue and a specific operational challenge."
The BDLA will continue to monitor the situation and remains committed to upholding the highest standards of professionalism and stability across the short-term lending industry. We remain available to support all our members, their staff and the wider intermediary community during this period.
