Market Financial Solutions (MFS), one of the UK’s leading specialist property finance lenders, collapsed into administration in February 2026, months after filing accounts showing record turnover, surging profits, and a clean audit.
The failure is now emerging as a major financial scandal, with over £2.5 billion of investor money at risk, including potential losses for retail clients.
Global investment firm Apollo Global Management revealed that its Atlas arm had £400 million invested in Market Financial Solutions, while TPG reported exposure of £44 million. Barclays, believed to have around £600 million at stake, saw its shares fall 4.2%. Creditors Zircon Bridging and Amber Bridging warned of a £930 million shortfall on £1.2 billion invested, amid allegations the lender pledged the same property assets multiple times as collateral, according to administrators AlixPartners.
Retail investors may also face losses, while the collapse has been linked to a corruption investigation in Bangladesh involving former minister Saifuzzaman Chowdhury.
Founder Paresh Raja, a prominent figure in UK buy-to-let circles, is alleged to have fled to Dubai. Regulators’ role remains unclear; MFS (UK) ceased FCA-authorised activities on February 13, 2026, and Raja’s name does not appear on the register.
