{"id":17836,"date":"2024-12-02T07:44:31","date_gmt":"2024-12-02T07:44:31","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/?p=17836"},"modified":"2024-12-02T07:44:31","modified_gmt":"2024-12-02T07:44:31","slug":"property-finance-lender-msp-capital-makes-director-appointment","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/17836-property-finance-lender-msp-capital-makes-director-appointment","title":{"rendered":"Property finance lender MSP Capital makes director appointment"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Property finance specialist MSP Capital, based in Poole, has appointed industry expert Adam Tovey as commercial director, his second internal promotion in two years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tovey joined the fixed-rate lender in 2010, working his way up to valuation director and most recently, director of risk and underwriting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In these board-level roles he has led both the valuation and underwriting teams with accountabilities for all valuations and credit risk.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before joining MSP Capital, his background as an RICS Chartered Surveyor had already enabled him to apply insight in secured lending valuations for major UK banks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This year he was a key influence on MSP Capital\u2019s decision to reduce rates on its Development Exit Bridging Loan ahead of the base rate cuts from the Bank of England.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The firm\u2019s move, in June 2024, enabled customers to access development exit bridging from just 0.8% per month, its lowest rate since 2022, under a ring-fenced \u00a350 million funding allocation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said: \u201cOver the years with MSP, I\u2019ve had the opportunity to work closely with a talented team and contribute to our growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis experience has deepened my understanding of the unique needs of our clients and the evolving landscape of property finance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI now have the opportunity to further leverage these insights as we continue to expand our offerings and deliver exceptional solutions to our clients across the UK.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Second promotion in two years for industry expert<\/p>\n","protected":false},"author":18,"featured_media":3256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"coauthors":[81],"class_list":["post-17836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - 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