MSP Capital was approached by a developer who had recently completed a block of flats and required funds quickly in order to purchase a new site.
The client had no cash reserves but plenty of equity in his completed block with a relatively small first charge loan to another funder who had expressed no desire to increase this loan.
The client made contact with MSP Capital on a Thursday and by the following Tuesday all due diligence and valuations had been completed.
MSP Capital provided the funds to repay the existing first charge holder and release additional equity to permit the purchase of the new site within a week.
