1. What led you to set up Market Financial Solutions (MFS) back in 2006? What inspired you to take up this path in life?
Prior to launching MFS, I built experience in one of the UK's top management consultancies, and I eventually launched an independent investment group, along with a brokerage firm. As I moved into these endeavours, I developed expertise in restructuring businesses and taking them to the next level.
As my work continued, it became clear to see that businesses and property investors were in desperate need of bespoke financial solutions that incorporated their circumstances, and the wider economic environment. The slow-moving nature of the lending landscape was holding back investment in the UK’s property scene – limiting our collective prosperity.
I wanted to help resolve this. I vowed to provide investors with specialist products that could be issued with flexibility and speed. Barely a couple of years in, we had to deal with a global credit crunch. It suddenly became very difficult to get finance from mainstream lenders, and property investors quickly appreciated the utility of the specialist market.
2. Tell us about MFS and what will MFS look like in ten years?
MFS has been serving property investors for over 16 years now and in that time, we’ve continuously expanded, moved into new markets, and launched additional products. Our bespoke loans can be used to expand a property portfolio, refurbish, or convert an existing space, help investors refinance and more. What’s more, we also recently launched our first BTL mortgage, a product that brings bridging like speed and flexibility to landlords.
Across all our products, we embrace an open willingness to lend. We look for reasons to issue a loan, rather than finding excuses not to. To that end, we find ourselves regularly supporting borrowers who have been turned away on the high street. We’re always happy to hear from those who may have missed payments on their record, who are based overseas, or who are looking to invest in less common property types.
Looking ahead, we plan to launch more products and expand our teams to keep up with our ever-growing loan book. We recently hired our 100th employee and we already have far more new starters scheduled over the summer.
As the bridging world continues to become more mainstream, I want MFS to be the 1st company property investors think of. We want to grow our market share and set a shining example for the industry.
3. If you were to start a business again today, would you follow the same path you have or would you do things differently?
Logistically, I think I’d follow the same path. I’m incredibly proud of the fact that no matter what challenges presented themselves over the years, MFS never stopped lending.
But if I were to start a business again today, I would maybe set more resources aside for the truly unexpected. To a certain extent, you may be able to plan for, or factor in a recession. You can adapt to rising inflation, or hiked interest rates.
But who honestly saw a global pandemic coming? Given how complicated the world is, and just how impactful Covid-19 was, I think we all need to have emergency plans ready to go. Just in case. That’s something I’ve learnt and will continue to take forwards.
4. What would you like its legacy to be?
For investors, I want MFS to be the go-to place for all landlords and property specialists who are looking for quality bespoke lending options. I’m keen to have MFS be at the forefront of the specialist lending sector. A go-to place for all landlords and property specialists looking for unmatched bespoke funding, flexibility, and speed.
Internally and within the specialist world, I would like MFS’ legacy to be one of respect and openness. We’re proud of how diverse our workforce is, and not just for British South Asians, but for people of all backgrounds.
We never want our achievements in diversity to be just a trendy PR exercise. We believe our strength lies in how we welcome different beliefs, ways of thinking, and priorities.
We recently surveyed our staff and we’re incredibly proud of what the results showed. The data showed 44% of our current employees are female, with 56% being male. Just under two fifths (38%) describe themselves as English, Welsh, Scottish, Northern Irish, or British. A further 18% are Indian, with there also being a wide range of other nationalities and ethnicities – from Chinese to Pakistani, Lithuanian to Polish – making up the remaining 44%.
Our employees speak over 20 languages between them, which includes French, Latvian, Portuguese, Greek, Tamil, Hindi, Malayalam, Romanian, Polish, Russian, Spanish, Farsi, Urdu, Gujarati, Marathi, and German. When you bring multiple cultures together, amazing things can happen, and I want MFS to be a place where ethnic minorities feel truly equal and valued.
5. You’ve blazed your own trail as a business leader. Who has inspired you, whether in business or not?
On a personal level, it is my grandfather on my father’s side. I never had the opportunity to meet him, but I have always been inspired by what he achieved for the whole family. Especially as it was extremely hard to set up a business in Africa. He managed to set up and distribute a whole structure for the family before he passed away.
I admire people who have drive, passion, and a get up-and-go attitude for life – regardless of whatever field or area they pursue. I am inspired by certain leaders such as Gandhi with his persistent and peaceful approach, and Warren Buffet for pushing the limits above and beyond. In the world of sport, it was incredible to see Mohammed Ali take as many punches as he did, but always get back up no matter how hard it was.
Ratan Tata is another one of my personal idols. His commitment to philanthropy and supporting wider communities is awe-inspiring. I try to emulate this as much as I can in my own life. Outside of the real-world, I can appreciate some of the drive behind Gordon Gekko and Vito Corleone, setting aside what it’s used for!
6. You are supporting the Asian Achievers Awards this year. How important do you think it is to celebrate our successes?
We need to celebrate British South Asian successes given just how unlikely they could have been. It takes a lot for generations of families with overseas roots to adapt and fit in with a different society. Not to mention all the other civil challenges they may face such as culture clash, or potential xenophobia.
Yet, even with the odds against them, we’ve seen British South Asian’s not only integrate, but thrive. We need to recognise this incredible achievement for what it is – a triumph of modernity and understanding.