As the UK marks six months since the country went into lockdown, Masthaven Bank
has today revealed the extent of its support for its intermediary partners and customers throughout the COVID-19 crisis. Since March, the specialist lender has paid £1.4m in commission to its intermediary partners, providing vital financial support to these individuals and businesses. This represents over 2,000 customers who have had access to funding during this time, including those the bank is handling on behalf of its intermediary partners.
Over the past six months, Masthaven has also supported over 1,000 mortgage customers who found themselves in challenging financial circumstances because of COVID-19 by granting mortgage payment holidays. As a result, the bank has been rated 4.9 out of 5 on the online reviews platform Feefo for the way it has helped its customers throughout the crisis.
Masthaven has also bolstered its team by hiring 27 new colleagues across the business to ensure it can continue to provide customers with access to the financing they need. In April, the business launched its limited-edition new fees-free remortgage range in response to continued demand for remortgages during the coronavirus outbreak.
Jon Hall, Chief Commercial Officer and Deputy CEO of Masthaven Bank said:
“We’re proud to have remained open for business during the COVID-19 crisis, with our teams being fully available to intermediaries and customers and our product offering being largely unaffected. Throughout lockdown, Masthaven has remained dedicated to working with intermediaries to ensure customers have access to tailored solutions that meet their needs. There is no doubt that it has been a challenging time, but by adopting a flexible approach and adapting our processes we have been able to respond to the crisis in a positive way. As a result, we have been able to support our partners and customers during a time of uncertainty and anxiety.”
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About Masthaven Bank
Masthaven launched as a retail bank in 2016 and offers award-winning saving and lending products. Prior to that, Masthaven Finance has provided a flexible and personalised approach to bridging loans and secured lending since 2004.
Today, the bank’s knowledgeable and experienced specialists are committed to providing customers with flexible and fixed term savings accounts, bridging loans, development finance and mortgages.
Masthaven was recognised as 2020’s Most Innovative Digital Retail Bank UK by CFI, the third consecutive win for the category. Masthaven won Best Second Charge Mortgage Lender in the Your Mortgage Awards 2018/19 and Customer Service of the Year in the Money Age Mortgage Awards in 2019. It was also awarded Best Specialist Lender in the Moneynet Personal Finance Awards 2019.
Masthaven Finance has featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81) and the bank ranked 240 in Financial Times’ FT1000 list published in 2017. In 2020 it featured in Forbes as one of the top 10 fastest growing companies in the UK. In 2020, it featured in Forbes as one of the top 10 fastest growing companies in the UK.
The bank is regulated by the Financial Conduct Authority and Prudential Regulation Authority.