Masthaven can lend to both individuals and companies. The company must be a UK-registered limited company with its registered address either in England, or Wales.
The bridging finance would be secured on one or more of the company’s property assets, which could comprise shops, offices,etc - or in the case of developers, this could be residential property or land
Many companies have investment properties – either commercial or residential – and these can also be used as security for a bridging loan.
Bridging finance from Masthaven can be used for any purpose, whether it is business related (eg short term cashflow requirements, purchase of stock, office renovation etc) or personal. If the company directors/shareholders wish to release funds from the company - secured on company assets – for personal purposes, they would need to have an adequate loan account to enable them to withdraw the bridging funds from the company.
A bridging loan to a company must be guaranteed by all of the directors. We can provide standard Personal Guarantee Agreements for the directors to sign in front of their solicitor, having firstly taken the requisite advice. On repayment of the bridging loan, the directors’ personal guarantees are released and the security over the company’s property asset is discharged.