Masthaven has completed its swiftest bridging loan, for £233,552 with TFC Homeloans and Lightfoots Solicitors.
James Bloom, Managing Director of Short Term Lending at Masthaven, said:
“The packager approached us at close of business on Thursday 16th of November with an extremely urgent bridging case; we completed it in 48hrs, with funds released by close of business on Monday 20th of November. It’s cases like this, when short term lending wins the day, which highlight the vital role that Bridging can play. It’s a perfect example what can be achieved in a very short space of time, when a high-performing team is given clear instructions. The end result was a delighted customer.”
Ian Balfour, Sales and Marketing Director, TFC Homeloans added:
“We were contacted by the broker with the highly time-sensitive case. We packaged it to the highest standard and worked with Masthaven and the broker to ensure the timescales were met. As a bridging expert, and due to these additional pressures, our team came together - smoothing the process for all parties and ensuring the broker could give their client peace of mind. The success of this case is a clear demonstration of our abilities and what can be achieved with teamwork.”
Joe Middleton, Partner at Lightfoots, added:
“Early and clear communication was the key here. Most bridging instructions are time critical to some degree but making early contact with the borrower’s solicitor - telling them exactly what we required by when - gave them the guidance they needed. Being able to dedicate several team members to this meant things progressed swiftly, and we could work on both the administrative and technical elements in tandem. This ensured the case was always moving forwards in the direction and timeframe being sought. This is an excellent testament to how multiple people with an aligned target can deliver under even the tightest of timeframes”
In mid-September 2017 Masthaven launched its extended suite of Short-Term Lending solutions, in response to increased demand from brokers for simple flexible short-term lending with a quick turnaround. The extension incorporated a Light Development product, and enhancements to the bank’s Bridging proposition through the introduction of Standard and Prime Bridging products, alongside Development Finance and Commercial Bridging loans.
About Masthaven Bank Ltd
Masthaven launched as a retail bank in 2016. It 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. The bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register no. 719354).
Masthaven was named ‘Best Bridging Lender’ in the Coreco Awards (2017); ‘Most Innovative Savings Provider’ in the Moneynet Personal Finance Awards (2017 and 2018); and ‘Best Specialist Lender’ in the Moneynet Personal Finance Awards (2018). Masthaven Finance featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81). Masthaven Bank was ranked 240 in Financial Times’ FT1000 list (2017).
FOR FURTHER INFORMATION
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