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MSP Capital expands underwriting team to drive growth

Posted on: 31/05/2022

Property finance specialist MSP Capital has expanded its underwriting team to champion its growth in the development and bridging loan market.

The south coast-based lender has made two strategic appointments to reflect its continued growth in the property industry, with £165m of funding released in 2022 so far.

Business development manager Mike Townsend is tasked with delivering new funding opportunities in Hampshire and West Sussex while credit analyst Jo Kelly, pictured, will support the business with asset lending and financial analysis.

Both new recruits are experienced industry insiders. Their arrivals come as the property market continues to do well despite the wider economic context.

Mike spent 35 years with a top five high street bank, spending the past 20 as a relationship manager providing funding solutions for real estate clients.

He has structured and supported property deals to enable a variety of residential, commercial and investment projects, many involving bridging finance.

Mike said: “As part of the underwriting and business development team, my role is to spread more awareness of the MSP Capital brand, mainly across Hampshire and West Sussex, and seek out new funding opportunities to help our continued growth aspirations.”

Jo has more than 25 years’ industry experience having worked for asset finance providers and, like Mike, a top five high street bank.

She was most recently a senior relationship manager helping Dorset businesses with asset finance requirements, a position she held for seven years. 

At MSP Capital, she will apply her skills in asset lending and analysis to assist both Head of Broker Relations Arian Manouchehri and Underwriting and Credit Manager Lee Merrifield.

Jo said: “MSP Capital is increasingly recognised for its success in combining an entrepreneurial lending approach with robust diligence and checks to identify and progress tailored solutions. I look forward to bringing my experience to bear to help more clients complete deals and make developments happen on the ground.”

Welcoming Jo and Mike, MSP Capital’s managing director Martin Higgins said: “A large part of our ongoing success in the market is due to our ability to build strong relationships with our clients. That is the reason we see our volume of enquiries, applications and completions all going up.

“Strengthening our team with two more industry experts, both with vast experience, will enable us to continue to service our clients on a personal level, while our loan book grows.”

According to Statista, the UK real estate sector generated more than £68.6 billion in turnover in 2021, created or maintained 551,000 jobs, and is set to see 205,000 new houses completed in 2022. The overall value of residential property in the UK is put at £7.2 trillion.

The latest ONS figures also show increasing demand for property with the average house price rising 1.1% in April and now standing at £286,079. That is more than ten per cent up on a year ago.

At the same time, the most recent UK brokers’ Bridging Trends report tracked an 8.5% rise in the value of bridging loans in the first three months of 2022 compared with the same period last year.

Reasons include heightened demand for investment properties and funding for chain break transactions, a means to avoid the need to sell one home before buying another.

For more information on MSP Capital, visit www.mspcapital.co.uk, email info@mspcapital.co.uk or call 01202 743400.


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