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Working together through lockdown

9 July, 2020

In what has been an incredibly challenging time for the building industry our focus at MSP, throughout lockdown, has been to support our existing clients, ensuring access to our crucial development funding lines was maintained to enable project developments to progress. This case study is a real success story to come out of these challenging times.

The Project

Beaufort Homes Limited are well established and experienced property developers in the South East but were new clients to MSP, who originally drew down their loan back in December 2019, with lockdown occurring at an early stage in their project.

The development comprised of a gated terrace of 3 three-bedroom executive townhouses located in Oxted, Surrey, offering a great location to town and road links. The site previously occupied commercial buildings and a yard, which were quickly demolished, and construction progressed on the dwellings following the successful granting of planning. See full property details here

Maintaining Momentum

MSP initially provided a land loan to assist with the purchase of the site, and we are funding 100% of the build costs; with the funding, all agreed within our lending parameters and a loan to value of approximately 60%.

The Covid-19 lockdown came at a time where the development was at a relatively early stage. Due to the client’s ability to work throughout and the continued availability of MSP build loan funding, the works remain on program and the original practical completion date of August 2020 remains readily achievable.

What the Client Says…

In what we all know to have been incredibly testing times it has been a massive relief to know that the team at MSP has had our backs. We managed to keep our developments moving forward through the lockdown and this has been in no small part due to the support of MSP. These are our first two developments with funding via MSP and the front end assurance of transparency, speed of delivery and open dialogue have been delivered in abundance – Adrian Elshaw, Beaufort Homes

Working in Partnership

The continued success of this project is a testament to the partnership between MSP and Beaufort Homes. The developers’ experience and MSP’s ability to offer continued support, quick turn-arounds of requests for draws from the building loan, and continued engagement with the monitoring surveyor and other professionals have been essential in maintaining momentum throughout lockdown.

Beaufort Homes track record of high build specification, experience, and professionalism make them a highly regarded client that MSP would be delighted to partner with for future developments.

 

For any commercial or residential development finance requirements, and to find out more about MSP, please contact the team at [email protected].

Onboarding process moved online

9 July, 2020

As we continually strive to make our borrowers’ experience as easy and efficient as possible, we have moved several of our onboarding processes online; removing the need for paperwork, printing, and for you to even leave the house for document certification.

MSP is pleased to announce that we have partnered with DocuSign and HooYu to give our borrowers the ability and confidence to sign and provide proof of identification all from the comfort of your home.

Docusign

DocuSign will enable our borrowers to sign an Offer of Finance electronically,  securely, and quickly from any device. We will simply email your documents directly to you for an instant signature return. All documents are encrypted for security and a full audit trail is always maintained, enabling you to sign your Offer in seconds.

HooYu

HooYu is MSP’s online electronic verification partner,  enabling our borrowers to provide proof of ID and proof of address documentation from a computer or phone.

To enable this, MSP will require you to take a selfie and upload it alongside a photo of your proof of ID and proof of address. HooYu quickly and safely verifies people from all over the world using digital footprints, ID document authentication, and sophisticated facial biometrics technology.

HooYu is safe and secure, as it uses a high-level TLS encrypted connection. They delete all copies of your documents as soon as the identity check is complete.

By using HooYu, we can complete our client verification process without the need for you to leave your home to obtain certified documentation. This way, we can check who you say you are while keeping your details completely safe and secure and progress your loan quickly.

If you would like to find out more about our new partners or have any additional questions, please get in touch with the team on [email protected]