Masthaven unveils new Broker Portal for its short-term lending division

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  • The specialist bank has launched the brand-new online portal to whole of market following a successful test-and-learn phase with brokers
  • Designed to help brokers get instant DIPs and apply for and track their cases quickly and easily online
  • Masthaven has already completed its first loan originating solely from an automated DIP
Register for the new portal here.

Masthaven today launches its online Broker Portal for its short-term lending division. The Broker Portal will give brokers access to quick quotes, instant Decision in Principles (DIPs) and the ability to apply online, as well as visibility of case progress. The portal, available to whole of market, has been shaped by broker feedback, following a successful test phase with Masthaven’s premier panel brokers.

Other key highlights of the portal include:
  • Direct access to key documentation which brokers can share with customers
  • Quick Quote calculator
  • Auto-filling forms making it faster to progress cases and reducing errors
  • Instant DIPs for straightforward cases and credit-backed DIPs – where cases are reviewed by Masthaven’s underwriters
  • Online applications
  • Case tracking
  • A simple, direct process, meaning brokers aren’t wholly reliant on calls to Masthaven and responses from the team to progress a case
  • Document upload facility
During the portal’s test phase, Masthaven issued its first bridging loan originating solely from the system’s automated DIP function.

Brought to the bank by The Loan Partnership, the first charge loan helped the broker’s clients secure their “dream home”.

The automated DIP function means that with a few clicks of a mouse, brokers can go from enquiry to application completely online – and in a matter of minutes.

The launch of the portal is part of Masthaven’s ongoing investment in technology, after being named ‘Most Innovative Digital Retail Bank’ in the UK this year. Because of the nature of short-term lending, speed is often vital, particularly for bridging cases.

By giving brokers a portal that provides instant DIPs, the bank’s underwriters can spend more time working on complex cases. However, customer service and human interaction still lie at the core of all Masthaven does. The portal will be in addition to support from Account Managers in the field and the Masthaven team who will still be readily available to support their brokers.

Jon Hall, Chief Commercial Officer/Deputy CEO, says:
“Our Broker Portal is testament to our ongoing commitment to creating systems that benefit both brokers and customers alike. We recognise the power of technology and will continue to invest in tools that simplify and speed up the end-to-end loan process wherever possible.

“But the human element of any loan application is even more valuable to us. This is why we have developed our brand-new portal – to improve and enhance broker workloads so they can run their businesses more effectively, freeing up additional time to support customers face-to-face when needed. This is just one step we’re taking this year to emphasise that we’re a digitally-focused lender with a human approach to product and lending decisions, fully supporting brokers at every touchpoint.”

Mark Lusted, Managing Director at Dock9, says:
"Dock9 are delighted to be working with Masthaven to enhance the digital experience for their brokers and borrowers of which the latest phase is delivering their new Broker Portal. Masthaven have proved a forward-thinking partner and have pushed relentlessly throughout the project to deliver an exceptional digital solution for their brokers."

Andy Pelley, Director, The Loan Partnership, says:
“Masthaven have launched a system we think will set the standard for the future. They’ve really thought about the broker’s application journey, creating a portal that’s easy to use, simple to understand and a proven time-saver.

“We’re able to get quotes in seconds, obtain DIPs in minutes and even get credit-backed backed DIPs within 4 hours – we’re not aware of anyone else offering this. We’re delighted to have brought the bank’s first completed loan coming from an automated DIP – it took a matter of minutes and was a seamless process. The portal will help brokers, packagers and clients immeasurably.”
About Masthaven Bank Ltd
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 2019’s Most Innovative Digital Retail Bank UK by CFI, the second 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 and Savings Account Provider of the Year in the MoneyAge 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. The bank is regulated by the Financial Conduct Authority and Prudential Regulation Authority.

Tom Reeder, Account Manager
[email protected]
m: 07766 255 757