The facility, which was supported by EY FS Corporate, is being used to help achieve MSP’s projected growth plans in the development finance market.

This year, the company has seen a 30% rise in its loan book as well as a 41% increase in head count and this deal is the latest of several moves the fixed-rate lender has made to ready itself for more growth — including expanding the roles of its directors and the introduction of new associate directors.

Becky Harris, director of strategic finance and operations at MSP (pictured above), said: “This facility is all about providing more flexibility and diversity of funding for us and our clients.

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“It comes at a time when we are seeing more and more developers approach us for development finance.

“From the get-go, the people at Pollen Street were so engaged with not only our business and lending strategy, but who we are as a team and company.

“We look forward to a long and successful partnership with Pollen Street.”

Adam Tovey, director of risk and underwriting at MSP, added: “This is a pivotal time for specialist lenders [as] more borrowers are seeking alternative sources of development and bridging finance, amid a steady retreat from mainstream high-street lending, due to challenges in sections of the property market, especially BTL.

“This [deal] will further solidify our certainty of lending and ability to empower clients to continue building homes in England and Wales.”