Newly authorised Masthaven Bank has today announced the appointment of James Bloom as Managing Director of its Development Finance Division, effective 6 July 2016.
James joins from specialist development finance operator, Regentsmead Group where he was Chief Executive, having worked for the organisation for 29 years. During his tenure he created the Short-Term Lending department, became Director then Chief Executive, growing the business substantially to make it one of the leading privately owned development finance businesses in the market.
The appointment confirms that Masthaven Bank will create a specialist Development Finance division as part of its lending strategy to deliver tailored products to underserved markets, when it fully launches later this year.
Following receipt of its full banking licence in May, Masthaven Bank has already confirmed it will offer a range of competitively priced online fixed-interest savings products that people can tailor to meet their savings goals and that it will continue to offer specialist second charge mortgages via its intermediary partners.
Jon Hall, Managing Director, Masthaven Bank, said: “It is a very exciting time for Masthaven Bank as we set to launch as a retail bank. Our opportunity comes from creating products focused on individuals’ needs that are delivered brilliantly. We are delighted to have attracted James, as one of the best known players in this marketplace, and to have persuaded him to join our exceptional, and growing, leadership team.”
James said: “After nearly 29 years at Regentsmead it would have taken something incredibly exciting for me to leave. I could see this was the very special business which I would be delighted to join. We are going to be re-launching our development and refurbishment products - combining low cost of funding with a five star service to create a market-leading proposition.”
Masthaven Finance started lending in 2004 and has specialised in first and second charge residential and BTL mortgages and short term loans, including a full range of products including Regulated and BTL Bridging Loans, Renovation and Refurbishment Regulated Loans and Regulated Development (including self-build) Loans. Masthaven Finance were included in 2015’s The Sunday Times‘ Virgin Fast Track 100, the annual awards designed to recognise Britain’s top 100 private companies with the fastest growing sales over their latest three years. Masthaven Finance, the bridging division of Masthaven Finance Group, were listed as number 81 in the list of 100 companies.