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Date: 21 February 2022

Author: Rachel Bartlett

We delivered a £1.5 million bridging loan in the fastest lending turnaround in our 41-year history.

We made the loan in record time to enable multi-award-winning developer Juno Developments to respond to a last-minute opportunity on a residential deal in Bath.

Securing the funds needed in less than 24 hours means Juno can press ahead with acquiring another development site for a block of apartments in a prime location.

When the urgent request came in, we immediately pulled our internal teams together, mobilised long-standing partnerships with lawyers and valuers and carried out the necessary due diligence and pre-lend checks.

Paul Miracca, Director at MSP Capital, said: “We understood the need to act quickly, so we worked late into the night to ensure the deal happened on time for the client. They came to us knowing of our reputation for going above and beyond and using our property expertise to act decisively on loan requests.

“I’m truly proud of how Team MSP worked together so tirelessly to get this over the line so the client wouldn’t miss out on such a great opportunity. It proved the worth of having such strong relationships with our legal and valuation partners who we have worked with over many years. This helped to make sure all the necessary client checks were done fully.

“We know that timing is everything in the bridging market and what enables us to act so quickly is that we’re not like a high-street bank which may be held back by red tape or bureaucratic processes.

“Even though we did exactly the same level of pre-lend checks, we have the advantage of agility and a team that can make, and act on, decisions super-efficiently.”

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“I doubt many funders would even entertain the concept, let alone deliver. We completed with minutes to spare, a great performance by the MSP team, thank you.”

James Dean, Director at Juno Developments

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