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Fallout from Market Financial Solutions – more regulation, greater scrutiny, tighter enforcement?

Beautiful periodic buildings at Mayfair and luxury cars parked at road. Mayfair one of the richest areas to live with fancy lifestyle
Wealth is concentrated in London’s Mayfair district. Photo: Getty Images

Private credit lenders should expect to see lenders introducing a more vigorous system of checks on security.

Given the level of publicity following Market Financial Solutions (MFS) entering administration in February amid allegations of fraud, an enforcement investigation by the UK FCA into the Mayfair-based mortgage lender was perhaps inevitable.

MFS has been accused of double pledging – using the same property assets as collateral for multipleBarclays