MSP Capital

MSP announces record month in March with £55m of funding committed

MSP Capital has announced it achieved a record-breaking month in March 2021, after committing to fund £55m of loans, with around £40m already completed.

On the back of this success, the Dorset-based specialist lender has launched the largest tranche of its premium residential bridging product to date, with £70m of funding available.

The lender designated an initial tranche of £30m in August 2020, and has since continued a measured release of the offering, with the last premium launch of £60m all allocated.  

It provides loans on unregulated single or multiple residential property assets and on either vacant or tenanted ASTs, predominantly in the South of England.

The six, 12 or 18-month product can deliver up to 70% LTV, with rates from 5.99% pa and zero exit fee options available.

With a strong appetite to lend, MSP Capital has taken market and customer feedback to develop the new tranche and is positive it can beat its record again in April and May.

“We have a reputation for delivering on our original offer, which gives certainty at the exact time that it is needed to our brokers and their developer clients,” said Paul Miracca, director at MSP Capital (pictured above).

“This provides them the financial freedom to plan and execute their projects.  

“Our level of service means we enjoy long-standing working relationships with our borrowers.”  

This year, the finance provider is celebrating its 40th year of business, as reported in the latest Bridging & Commercial Magazine.

“It’s been incredible to work with our entrepreneurial client base and facilitate their opportunities,” added Paul.

“We look forward to more of the same during the remainder of 2021 and long into the future.”

According to the lender, its systems can facilitate drawdown within three working weeks of initial enquiry.

Gavin King, business development manager at MSP Capital, commented: “Bridging loans are incredibly effective financial solutions to bridge the beginnings and ends of projects, from completion through to sale and many other options in between.  

“At MSP Capital, we combine our financial and property expertise to tailor every solution to the needs of each client, as such, bridging loans have proven to be invaluable to developers — particularly during the past 12 months of lockdown, ensuring that there is liquidity available to keep Britain building.”

In August 2020, the business welcomed Richard Rowney as a non-executive director

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