MFS Linked to Unregistered £300 Million Mortgages, Clouding Lenders' Claims
Updated
Updated · Bloomberg · Jun 19
MFS Linked to Unregistered £300 Million Mortgages, Clouding Lenders' Claims
3 articles · Updated · Bloomberg · Jun 19
Summary
Court filings show a £300 million mortgage portfolio tied to collapsed lender Market Financial Solutions appears never to have been entered in public property records.
Twinwin Ltd., part of the wider MFS network, held the portfolio but did not seem to register the loans, according to documents filed Thursday in a petition to liquidate the company.
Registration is generally needed to protect a lender’s interest in a property and set priority against competing claims, leaving creditors facing a harder fight over the underlying assets.