Bridging Finance News

Masthaven Secured Loans cuts rates and increases loan sizes

January 27th, 2014

Masthaven Secured Loans (MSL), part of the Masthaven group, has announced a significant overhaul of its core product range with increased loan sizes and reduced rates.

 Highlights include:-

  • Higher loan sizes across our Let Prime and Prime plans.
  • £80,000 up to 75% on MSL Prime
  •  Lower interest rates across all plans
  • Rates on CCA Regulated now start 9.75%
  • Rates on unregulated now start at 9.85%

According to Director of Sales, Paul Brett, the feedback from introducers has enabled MSL to further develop its proposition and particularly its award winning BTL offering.

He said, “At MSL, we aim to respond to broker needs quickly and decisively. We know they like our service and the simplicity of the product matrix and today we are continuing to further improve the product range with our rate reductions and increases in loan sizes. We are constantly looking for ways to improve and our introducers will continue to benefit from our proactive stance on constant improvement.”

Masthaven launches first online training sessions for brokers

January 22nd, 2014

Masthaven Secured Loans (MSL), is pioneering the use of webinars as a way of helping brokers gain a clear understanding of their products and service much faster than with a traditional meeting.

MSL, which has just launched a unique hybrid second charge short term product, is keen to make use of the advantages that the internet now allows for businesses to get their key messages across quickly, while at the same time keeping staff disruption for clients to a minimum.

According to Paul Brett, Director of Sales at MSL, the first webinar, which officially launched on Monday 20th January, provided a real time, online presentation by MSL’s new underwriting manager, Sarah Phillips.

He said, “What makes a webinar so powerful is that it can be deployed at a time to suit the audience and because it is quick and informal, it means less time away from the important day to day business needs of the company. Attendees are able to ask questions and receive immediate answers. Webinars can be tailored to meet the individual needs of our introducers and can cover everything from new products, underwriting and other aspects of our criteria.”

He added, “We are firm believers in face to face contact as a relationship builder, but where the webinar is so useful is in being able to get almost immediate access to training and information, which might take time to organise as a face to face meeting.”

Bradley Moore, Head of Secured Lending at Brightstar, commented, “Masthaven’s use of the webinar is definitely the future for this kind of training and information dissemination. It was very useful for my people, gave them the information they needed and without the disruption to the working day that is normal with a face to face session. Full marks to all concerned at Masthaven Secured Loans.”

Masthaven launches hybrid bridging and secured loan product

January 13th, 2014

Masthaven Group has launched a new second-charge product, mixing elements of bridging and secured lending.

The loan is available up to £250,000. It is available on a term of up to 12 months initially but, at that time, Masthaven will reunderwrite the loan and offer the borrower a longer-term secured loan, if they meet its criteria.

Masthaven will consider applicants with up to six units of adverse credit, depending on the proposed exit for the bridging loan.

Masthaven Secured Loans director of sales Paul Brett says: “We are particularly proud to bring this new product to market, as it demonstrates how the bridging and secured loan sectors can cooperate to the advantage of the customer.

“This initiative plugs a gap that we identified with feedback from our bridging and second-charge introducers.”

Masthaven funds £1m bankrupt bridge

January 7th, 2014

Masthaven Bridging Finance has joined forces with Platinum Options to complete a £1 million facility on a former bankrupt’s property.

The deal was introduced to Platinum Options’ Specialist Lending Manager, Barry Scott, by Daryl Hyde of The Mortgage Market. Barry approached Masthaven with this and had terms out to the client within an hour.

The client was a mother and daughter team who each own an equestrian facility to run their individual businesses from.

They wanted to purchase a new equestrian facility for them to run their two existing businesses from one site, whilst both living in the house included with the purchase.

The vendor was bankrupt and the sale was dealt with via an administrator.

A loan size of £207,000 was initially discussed but this increased to and completed at £1,062,000, as the mother lost her buyer.

The security used for the deal consisted of three equestrian centres, two with residential houses incorporated, situated in Northamptonshire and Bedfordshire.

The 12-month loan was completed at a rate of 1.25 per cent pcm and the LTV across the total security was facilitated at 51 per cent

Due to the complexity of the case the deal took four months to complete.

Colin Moth, Senior Underwriter at Masthaven Bridging Finance, highlighted some of the complications to B&C:Purchasing from a bankrupt, the deal comprising of three equestrian facilities, the Council having a charge over the purchase, and the client advising wanted to split the title of one of the sales.

“Finding valuers in the area qualified to appraise the security type was also another hurdle, as was the client’s initial solicitor, who were out of their depth and the replacement solicitor who initially didn’t understand the urgency that bridging finance requires.

“A very complex but interesting case… numerous hurdles to overcome … was worth it in the end as got the required result for all parties concerned.”

Barry Scott added:What an amazing deal in many ways! Future deals will surely be easier but it just goes to show what a transparent and reliable lender Masthaven is. Masthaven kept me fully informed of the progress at all stages of this very difficult application. The support of the underwriter on this case ensured that the client was able to move into their new home.”

Richard Deacon, Sales and Marketing Director added, Barry and Colin worked as a team to get this loan completed. It had more hurdles in the way than at the Cheltenham Festival, but the desire to complete this loan was evident on both sides of the agreement and just goes to show what real service counts for even if the facility took as long as it did to complete.

Masthaven completes regulated deal in 4 days

December 19th, 2013

Bridging lender Masthaven Bridging Finance teamed up with distributor SPF Short Term Finance to complete a regulated bridge in just four working days.

SPF Short Term Finance was contacted about the deal and due to the involvement of an urgent purchase a strict deadline was set for the 16th of December.

Masthaven Bridging Finance received valuation fees on the 10th December, by Friday the 13th the funds were poised to be transferred. The loan reached completion on the 16th of December.

The £200,000 loan was lent against a property worth £1.8 million to balance out a shortfall in the client’s funds.

Richard Deacon of Masthaven Bridging Finance said: “Bridging Finance by its reputation should be a relatively speedy transaction. When push really comes to shove, as a lender you really do have to drop everything and pull out all the stops. It is a bit of a cliché but everyone involved has to work together to make it happen.

“From the moment we got instructed on the case, Lizzie Strong the underwriter, and her assistant Claudia Cataldo really did work miracles to liaise not only with SPF, but also the clients’ solicitor to make this happen. It is only down to the sheer determination of the team, and willingness to make it happen that this loan completed in the 4 day turn around.

“When we first got the call from Andre, he had unfortunately been let down by another lender who advised they couldn’t complete in the required time frame. This gave us an added incentive, as we always like to try our best when we are given a particularly challenging case as it is a great way of building relationships and trust. “

Zoe Claydon, BDM for SPF Short Term Finance, said: “The service from Masthaven was second to none, with this time of year timescales are always tight what with valuers availability and a push for year-end so it’s a real credit to them that when they say they can deliver, they deliver.“

Masthaven slashes rates

November 20th, 2013

Paul Brett, sales director at Masthaven, said the firm is looking to make it as easy as possible for brokers to do business by reducing the bandings across the range and streamlining the whole offering. 

He said: “While many lenders are striving to cover every angle in their propositions, which can make it difficult to follow, at Masthaven our philosophy is to make sure that what we do makes it easy for brokers to see exactly how their client fits into our product range.

“So we have simplified our matrix even further to provide greater clarity and by dropping our key rates, we believe we have an offering which stands out from the crowd and provides good value to brokers and their clients.”

Paul Crewe, director of Smart Money Loans, said:

“The rate reduction is to be welcomed, but where Masthaven has really succeeded is that rather than load up their product range with ever more bands and variations, they have minimised complication and produced a simpler proposition, which is easier to follow and apply. 

Backed up by their particular brand of personal service, Masthaven is becoming a strong contender for brokers’ attention in 2014.”

Paul Brett joins Masthaven Secured Loans

September 10th, 2013

Masthaven Secured Loans (MSL) has announced the appointment of Paul Brett to spearhead the sales strategy of the business as Director of Sales. 

Paul, who joins on 16th September 2013 from borro, the personal asset lender, has had a distinguished career in mortgage and loan sales development over more than twenty years as well as owning and running a very successful packaging business, creating a national packager network and providing consultancy services to some of the best known players in the market.

Paul said of his appointment, “This is an exciting time in the secured loan market and I am delighted to be working with Andrew Bloom, Stuart Aitken and the team at MSL. This is a lender with big ambitions to become an established force in the market and I am keen to use my knowledge and relationships to help MSL achieve success.”

Andrew Bloom, MD of MSL and the wider Masthaven Group, commented, “We are very pleased to welcome Paul to the management team at MSL. Paul comes to us with a great track record in business development, proven over many years with a variety of prominent companies, and his appointment is a vital catalyst to drive the growth of this business.”

Masthaven expand Scottish proposition

August 7th, 2013

Masthaven Bridging Finance, the FCA regulated, multi award winning bridging finance provider has expanded its bridging proposition in Scotland.

The lender, who recently won the award for the Best Bridging Proposition at the coveted Bridging & Commercial award ceremony has increased its lending appetite in Scotland to allow for the following:

  • Commercial bridging
  • 2nd charge bridging on residential property
  • Renovation and refurbishment projects

This compliments the already strong lending on FCA regulated and non regulated 1st charge lending.

Richard Deacon, Sales & Marketing Director said of the expansion “Masthaven have been lending in Scotland for nearly a year now and we are confident of both the geographical areas we are lending in, and the housing market itself. As an FCA regulated lender, we are one of very few who lend in Scotland on both a regulated and non regulated basis. Every deal needs to be looked at on its own merits, and whilst we are not going to lend everywhere, we will always look to see why we can do the deal as opposed to why we cannot.

It’s exciting times at Masthaven, we have just moved into bigger offices to cope with our increased proposition, which ties in nicely with our expansion into Scotland.”

Masthaven completes 400m London move

July 24th, 2013

Masthaven Bridging Finance, a leading lender in the bridging industry has due to impressive growth completed the relocation of its HQ offices to Palladium House, Argyll Street, London.

Masthaven Bridging Finance has announced that as a result of impressive growth and expansion plans, it has completed the move into larger offices, just 400 metres down the road from its previous premises.

Andrew Bloom, Managing Director, told B&C: “We were at our previous offices, Mimosa House, for three years but our team has doubled in size and we needed to move.

“The Masthaven team consists of a dozen members plus underwriting staff. We have five people carrying out business development together with a number of people in compliance, accounting, collections etc.”

Masthaven has now set its growth sights to double in size, focusing on all three of its business areas – bridging finance, development finance and secured loans – over the next three years

Andrew added: I am delighted to see the continued growth in Masthaven, which is reflected in our increased need for office space. The company has significant growth plans over the next couple of years.”

Masthaven is currently looking for two new additions to its team, so if you’d like to enquire about the roles contact Richard Deacon, Sales & Marketing Director at Masthaven.

Assistant Underwriter: Looking for a hard-working and motivated individual to join its underwriting team. The successful applicant will be highly organised, numerate, able to work effectively under pressure and have a confident telephone manner. Mortgage or other lending experience is preferred but not essential.

Business Development Executive: A hunger for excellence is what is required for this exciting new role within Masthaven. The successful candidate must have a polished, professional telephone manner and be able to work to tight deadlines. Ability to act smartly under pressure, multi task and build string relationships will be key to progression within the role. Bridging experience ideal but not essential.

Masthaven scoops two more prestigious awards

July 2nd, 2013

Masthaven were celebrating again at the recent Bridging & Commercial awards when they captured the award for best bridging proposition. Underwriting & Operations Manager Claire Wasbrough also won the award for Underwriter of the year.


Held at the Grand Connaught Rooms at Holborn, London, over 450 of the industries finest movers and shakers were present at the awards celebration of the media firms 5th birthday. Dressed in masquerade masks the awards were presented to the finest that bridging finance has to offer.

Richard Deacon, Sales & Marketing Director said
“We are delighted to win the award for best bridging proposition. It goes to show that the introducers out there feel, like we do, that if your client is after a bridging loan, then Masthaven can help. We offer bridging loans in England, Scotland and Wales. For 1st charge FCA regulated loans, non regulated loans, renovation and refurbishment projects, commercial property, development projects, auction finance and adverse credit applications to name but a few! As a one size fits all lender, this is the award we really wanted to win and shows our commitment to the market and the growth of the industry. Claire winning underwriter of the year was simply wonderful news. She is one of the hardest workers in the office and works really hard on her relationships with our introducers, many of which come back to us time and time again asking specifically for Claire to underwrite their deals. I am very proud of her”

Claire Wasbrough, Underwriting & Operations Manager added
“This is the first time this particular award has been introduced, so for my name to be first on the roll of honour is a massive privilege. I love my job at Masthaven, and of course it’s not all about me, but also the fantastic team that we work with day in day out. For my name to be read out as the best in the industry at the job I do was an amazing feeling and one I want to have next year too, so I won’t be resting on my laurels!”