FAQs for borrowers

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These relate to our intention to withdraw from the UK banking market over the next two years. For our other FAQs, please visit our Manage your account page.

Short term loans

I’ve got a Masthaven bridging or development loan.  What do I need to do?
You don’t need to take any action.  The terms of your loan remain the same. 

Mortgage Customers

I’ve got a Masthaven mortgage. What do I need to do?
You don’t need to take any action. The terms of your mortgage remain the same and we’ll continue to take payments as normal.

Your mortgage will continue to be with Masthaven until we advise you otherwise.

Will I have to re-apply for my mortgage when the mortgage book is sold?
No, your mortgage agreement will stay the same as when you signed it.

Will my payments or interest rate change when the mortgage book is sold?
No, your mortgage agreement will stay the same as when you signed it.

When will the mortgage book be sold? 
We’ll be back in touch once we have an update regarding the sale of our mortgage book.  

Will I need to repay my mortgage when the mortgage book is sold?
No, your mortgage agreement will stay the same as when you signed it.

My fixed rate mortgage period is ending and I’m switching to a new product with Masthaven – will this still happen?
Yes. We’ll continue to process all rate switching requests as normal.

I’m in the process of moving my mortgage to another lender – is this impacted?
No. We’ll continue to process all redemption requests as normal.

Can I continue to make overpayments on my mortgage?
Yes, subject to the terms and conditions of your mortgage offer.

General

What does it mean to sell a mortgage or loan book?
‘Mortgage book’ or ‘loan book’ refers to all the mortgages and loans currently managed and serviced by Masthaven. This is common practice amongst lenders and means Masthaven will sell its rights to service your mortgage or loan, for example collect your interest payments. Everything else about your mortgage or loan will stay the same.

Will this change impact my credit file?
No. There will be no change to the way we report the status of your account with us.

Can I still make changes to my loan or mortgage while this is going on?
Yes. Changes can be made as normal. Visit our Manage Your Account page for full details and processes.

I’m worried about making my monthly payments or paying my loan back. Can you help?
Yes. Throughout this process we’ll continue to support our borrowers. If you’re worried about making your mortgage payments contact our Customer Service & Financial Support team on 0207 036 2012 or email [email protected]

Who do I contact if I want to speak to someone?
You can contact our teams in the normal way but following this announcement our phone lines may be busier than normal.