The client approached MSP Capital with a requirement for build finance to construct eleven flats.
The client had a loan secured on a first charge against a development site, but as part of the agreement with the previous owner, our client was obligated to provide a new ‘Community Centre’.
The site had additional problems relating to access and party wall issues including basement parking, which increased the complexity and overall build costs.
After struggling to raise finance with other high street lenders, MSP Capital was able to assess the value of the land and offset the costs of providing the community centre to conclude that the project was a commercially viable development offering suitable security.
MSP Capital is now providing the build finance for the scheme, with our borrower having already secured five sales.
16 October, 2016
MSP Capital was approached by a client to provide a loan to facilitate the purchase of a share of a business from a departing director.
The loan for the company was secured by way of a legal charge against our client’s private residence, which was then in turn refinanced by a high street lender against the business once the re-structuring had taken place.
1 October, 2016
MSP Capital was approached by an established business which had an opportunity to purchase a warehouse directly next to its current operation before the premises was formally advertised for sale on the open market.
The vendors required a prompt exchange and completion to keep the premises ‘off market’ and MSP Capital provided the funds within two weeks of being approached to provide the business with the opportunity to purchase the unit and expand successfully.