We’re all experts, but unfortunately none of us really know what’s to come.

With the UK expected to head into a prolonged period of recession – especially considering the cost-of-living crisis and rising interest rates – lenders are nervously looking over their shoulder and wondering whether borrowers will be able to repay their loans.

A borrower who six months ago said their exit would be on a BTL at 3% is now facing a very different economic climate. Now, it may no longer be economically viable to retain the security and a sale may be the only option.

Despite this, MS Lending Group exceeded all expectations in 2022. A particular highlight was being recognised by our peers and scooping up the Best Bridging Lender Newcomer and 2022 ESG awards. In September, we saw a record funding month of £15m, followed by £12m in October.

•   What does the specialist finance industry need in 2023 and beyond?
•   British Business Bank appoints new NEDs
•   Together launches £467m asset-backed securitisation

We have funded over 250 cases and lent over £75m, but we know 2023 could be a challenging year. That said, concerns we had a few weeks ago that rates could hit 6% have been allayed and our understanding of property, valuations and bridging lending should stand us in good stead for the year ahead. Having grown and built a strong team in 2022 as well as securing strong funding lines, we are excited for the year ahead.

As someone who started a new job as managing director at MS Lending in January 2022, I have a few observations:

• try to leave your old job with a handshake and a smile –undoubtedly your paths will cross again
• being a privately funded business allows you to be agile and adapt to market conditions and customers’ requirements
• you can’t be all things to all people – there’s enough business to be done by sticking to your principles
• knee-jerk reactions don’t help anyone
• Rates are important but only form one part of a decision when looking for the most appropriate lender – cheapest isn’t always best
• don't become complacent – you've probably spent a lot of time getting to where you need to be
• never be too busy to respond to an email or message – it doesn't look good and is extremely rude
• whilst always looking forward is important, the ability to take a step back and look at what you’ve achieved should not be underestimated