The association said that it acknowledges the difficult situation currently facing the management, staff and clients of Market Financial Solutions.
It said that it understood the decision to be a “protective measure to safeguard the interests of all stakeholders, including employees, borrowers and investors”.
Adam Tyler, CEO at the BDLA (pictured above), commented: “Our immediate thoughts are with the team at Market Financial Solutions, as well as the many brokers and borrowers who have built longstanding relationships with the firm over nearly two decades.
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“Market Financial Solutions has been a prominent and active participant in our sector, and we are encouraged by the management team’s proactive steps to seek a structured environment through administration to protect the business’ assets and ensure the continuity of loan management and servicing.
"The specialist lending sector remains robust and well capitalised, and continues to provide vital liquidity to the UK property market.
"While any instance of a lender entering administration is significant, it is important to distinguish between a systemic industry issue and a specific operational challenge."
The BDLA said it will continue to monitor the situation and remains committed to upholding standards of professionalism and stability across the short-term lending industry.
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