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How lenders missed red flags on MFS’s ‘refinancing merry-go-round’

A view looking north along South Audley Street, Mayfair, toward its junction with Grosvenor Square.
Photo: Getty Images

The Financial Times

7 min read
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Collapse of UK bridging loan specialist has sent reverberations across Wall St amid fears of weak underwriting standards.

11 March, 2026 by Euan Healy, Ortenca Aliaj, Laith Al-Khalaf and Robert Smith in London

In 2019, two small funds were running the usual checks before investing in a fledgling mortgage lender registered to an address in the sleepy outskirts of a market town in North Essex.

They quickly hit a wall. Market

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