Posts Tagged ‘Bridging Finance’

London bridging firm moves to Mayfair

August 24th, 2010

The fashionable London district of Mayfair has become home to another finance house, the bridging lender Masthaven Bridging Finance.

In recent years Mayfair has become an alternative to the City for various banks and hedge funds to set up their offices, and now Masthaven has joined the ranks in making the move from East to West – relocating from its lower ground floor offices in Lombard Street in the City, to Mimosa House on the prestigious Princes Street.

Richard Deacon, Masthaven’s sales and marketing director, commented: “After 15 great years in the City, we have simply outgrown Lombard Street. The Mayfair office is a perfect move for us in terms of location and size. With 3 new members of staff joining us so far this year, and the likelihood of more before the end of the year, we are in prime position to strengthen our place at the head of the bridging finance industry.

“Our new address is Mimosa House, 12 Princes Street, London, W1B 2LL and the phone number is 020 7036 2000.”

The office move marks the latest change for the bridging lender. Earlier this year Masthaven launched a new website, which went on to win Best Bridging Website at the 2010 Bridging & Commercial Awards, and it recently recruited a new Northern-based Business Development Manager, Chris Parr.

Masthaven is a competitive and quick way to meet your short term loan needs.

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NACFB Exclusive special offer

July 23rd, 2010

Masthaven Bridging Finance is delighted to be able to offer NACFB members an exclusive special offer.

As proud patrons of the NACFB we want to support members of an organisation that works as hard as we do to provide help, support and assistance to brokers and intermediaries in what is still a very difficult industry.

For a 2 month period (starting 1st June 2010) Masthaven is REFUNDING ALL VALUATION COSTS upon completion of all first charge bridging loans.

On larger value properties this could be as much as £2,000.

Just think what you can do with this extra income……

You could give a full refund to the client, and therefore advertise FREE VALUATIONS to your clients.

You could give a half refund to your clients whereby you still get an extra commission, but you could advertise HALF PRICE VALUATIONS to your client bank.

Or of course, you could keep the whole extra commission yourself.

Call Richard Deacon now on 0207 6434164 or email directly richard.deacon@masthaven.co.uk and start earning that extra commission.

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Bankrupt advisor denies defrauding clients out of £1.2m

July 2nd, 2010

A court has heard how a North London businessman allegedly conned clients into giving him £1.2 million for “bogus property investments”.

Dipak Patel, 50, from Wembley, North London appeared before Harrow Crown Court where he denied five counts of fraud.

The advisor, declared bankrupt in 2008, has been accused of pressurizing five clients into letting him invest their money in the housing market, telling them that the opportunity would disappear if they hesitated too much.

None of the five victims ever saw their money again, and when they asked where the “huge returns” they had been promised were Patel avoided their calls, or asked for more money, telling them that he had re-invested the profit.

Two of the victims, Mr Alan Wilson and his wife, are thought to have lost over £1 million that they claim to have given Patel.

Two business partners apparently gave £155,000 between them, according to local news site, Harrow Times.

Andrew Evans, prosecuting, said: “Mr Patel received substantial sums of money from clients who paid or loaned him these monies, in order for him to invest them on their behalf on various property developments, both in the UK and abroad.

“However, none of these monies were in fact invested as the defendant claimed they would be.”

The trial continues.

Masthaven is a competitive and quick way to meet your bridging loan needs.

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HMRC debt collector jailed for stealing £85,000

June 28th, 2010

A debt collection officer working for the HM Revenue & Customs has pleaded guilty to stealing nearly £85,000 from taxpayers. He was sentenced to two and half years in prison at Hereford Crown Court.

Local paper, the Redditch Advertiser, reported that 44 year-old Geoffrey Eley spent six years visiting debtors and businesses door-to-door, taking cash payments that he then pocketed.

Between 2001 and 2007 Eley stole a total of £84,950, taking sums of up to £28,904 from taxpayers.

It is not known how Eley, a serving HMRC officer of nearly 27 years, spent the money, or whether any of it has been recovered.

Not only did the debt collector trick taxpayers with photocopies of official HMRC receipts, which led debtors to believe that they had settled their debts with HMRC, he also attempted to hide his deceit by crediting the conned taxpayers’ accounts with cheque payments from unconnected third party taxpayers.

The HMRC has said that steps have been taken to make sure that similar abuses of position cannot occur.

Joff Parsons, head of HMRC’s internal governance criminal investigations, said that Eley abused his position of trust for personal gain, adding: “We will relentlessly pursue anyone who attempts to steal from public funds and they will face criminal sanctions.”

Masthaven is a competitive and quick way to meet your short term loan needs.

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David Beckham set to be defence witness for broker arrested in South Africa

June 28th, 2010

For the many England supporters watching the match on Friday night with their heads shaking in disbelief, 32 year-old mortgage broker, Pavlos Joseph, is something of a hero.

This is the man from Crystal Palace who has come to the nation’s attention after he reportedly stumbled into the England players’ dressing room whilst looking for a toilet, before haranguing the team about their dismal performance in the 0-0 draw with Algeria.

On Sunday the mortgage broker was arrested at his hotel and appeared in a Cape Town court charged with trespassing. Looking shaken and surrounded by armed policemen, he was bailed for £45 but banned from attending future World Cup matches.

According to new reports, David Beckham may be called as a defence witness for Mr Joseph in his trial for breaking two laws, which have been specially drawn up for the World Cup.

Following the disappointing draw between England and Algeria on Friday night, it has been reported that Mr Joseph accidentally wandered into the team’s dressing room and came face to face with David Beckham.

The broker claims that, when asked who he was, he said: “I’m Pavlos and I actually need the toilet.”

He told newspaper The Mirror that he then said to Beckham: “David, we’ve spent a lot of money getting here. This is a disgrace. What are you going to do about it?”

Turning to the other players he apparently said: “That was woeful and not good enough.”

David Beckham has since played down the incident, speaking at a FA reception in Johannesburg, he said: “Obviously it has been blown out of all proportion… The actual fan literally just walked in very casually and just said something to me and then walked out.

“There was no scuffle; there was no aggression at all.”

Mr Joseph is a senior mortgage consultant at London brokerage, Vista Finance, based in Westow Hill. No one at the firm was available to comment.

His family have spoken out however, saying they fear that he is being made a scapegoat by embarrassed South African authorities.

Mr Joseph’s trial is likely to begin this Friday. His passport has been confiscated and he has been told that he could face a year in jail, and at the very least, a hefty fine for the trespassing offence.

Masthaven is a competitive and quick way to meet your short term loan needs.

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