Property finance firm MSP Capital has appointed Adam Tovey as commercial director, marking his second internal promotion in just two years.

Adam joined the fixed-rate lender in 2010, working his way up to valuation director and then director of risk and underwriting.

In these board-level roles, he’s led both the valuation and underwriting teams, with accountabilities for all valuations and credit risk.

With more than 20 years of experience in property and finance, Adam brought to the firm a background as an RICS chartered surveyor.

He was a key influence earlier this year 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.

“Over the years with MSP, I’ve had the opportunity to work closely with a talented team and contribute to our growth,” said Adam.

“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.”

MSP’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’ve 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.

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

Martin added: “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.

“He brings a wealth of expertise in valuation, credit risk and client relationship management.

“He’s a respected figure in the industry and has demonstrated a remarkable ability to identify opportunities for innovation and has successfully developed new products and growth strategies.”