Property finance lender MSP Capital appoints new Commercial Director

Property finance specialist MSP Capital has appointed top industry expert Adam Tovey (pictured above) as Commercial Director, his second internal promotion in just two years.

The move is designed to enhance business growth and strategy as the 43-year-old Poole-based firm seeks to strengthen its market position.

Adam joined the fixed-rate lender in 2010, working his way up to Valuation Director and most recently, Director of Risk and Underwriting.

In these board-level roles he has led both the Valuation and Underwriting teams with accountabilities for all valuations and credit risk. At the same time, he has continued to manage numerous long-standing client portfolios and pursue new business development.

Adam’s experience of the property and financial services sectors goes back nearly 20 years.

Before joining MSP Capital, his background as a RICS Chartered Surveyor had already enabled him to apply insight in secured lending valuations for major UK banks.

This year he was a key influence on MSP Capital’s decision to reduce rates on its Development Exit Bridging Loan ahead of the base rate cuts from the Bank of England.

The firm’s 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 £50 million funding allocation.

Adam said: “Over the years with MSP, I’ve had the opportunity to work closely with a talented team and contribute to our growth. This experience has deepened my understanding of the unique needs of our clients and the evolving landscape of property finance.

I 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.”

Welcoming him to the new role, MSP Capital’s Managing Directors Paul Miracca and Martin Higgins both praised Adam for his contribution and skills.

Paul said: “Adam’s appointment is the latest core change we have implemented over the past 18 months to further strengthen our position in the market.

With future plans to increase the number of homes we are able to fund in England, there will be further exciting announcements at the beginning of 2025 as we look to launch additional lending solutions, ramp up our presence in the industry and further increase our flexibility of funding.”

He added: “Adam’s deep industry knowledge and innovative thinking have already contributed greatly to MSP Capital’s success, and we are confident that his leadership will continue to propel our business forward in this exciting new chapter.”

Martin said: “Adam’s understanding of the development cycle, and his desire to put the customer first, is a driving force in our strategy to offer an experience beyond finance.

With nearly two decades of experience in the property and financial services sectors, he brings a wealth of expertise in valuation, credit risk and client relationship management.

He is a respected figure in the industry and, at MSP Capital, he has demonstrated a remarkable ability to identify opportunities for innovation and has successfully developed new products and growth strategies.”