MSP Capital has agreed a £350m funding line with JP Morgan and Pollen Street Capital, which it will use to provide funding to developers looking to build homes.
The property finance provider said the funding is designed to bolster its continued growth in the development and bridging finance markets.
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The new funding lines include a senior-secured facility from JP Morgan of £200m, with an additional £150m from Pollen Street Capital, which is already a retained funding line for MSP.
The £350m, coupled with retained funding worth £135m from Pollen and Shawbrook Bank, provides MSP with a total funding capacity of £485m.
The firm said that JP Morgan has the potential to provide a further £350m in future, which would take MSP’s total funding capcity to £835m.
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“These deals mark an important milestone for us and will be the driving force behind an exciting growth journey for the company, our broker partners and our customers,” said Leigh Bartlett, chief executive officer of MSP.
“These new funding lines will further enhance our position as a respected lender, allowing us to lend more across the country.”
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