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16 October 2018

Masthaven Bank celebrates topping £0.5 billion in assets

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  • Specialist bank welcomes significant milestone as it delivers on its growth plans
  • Achievement comes less than two years after the launch of Masthaven Bank
  • Bank is continuing to strengthen its lending propositions, says MD Jon Hall

Masthaven has today announced it has generated £0.5 billion in assets driven by the growth in its diversified lending across short term and long term property financing which is funded totally from retail savers.

Jon Hall, Masthaven’s Managing Director, said the achievement showed Masthaven had transitioned from being a ‘new’ bank to an established, innovative specialist bank delivering on its promise of personalised products from manually underwritten mortgages through to its flexible term digital savings.

Other notable achievements included:

  • Generating £1bn of loan applications since launch;
  • Opening over 15,000 savings accounts since launch;
  • Retaining 70% of savings accounts

The achievement comes alongside recruiting strongly into its London-based team which now has 170 colleagues.

Masthaven has also generated over 1,000 customer reviews on the trusted feedback platform Feefo, maintaining an overall score of 4.6 out of 5 for service and a Net Promoter Score of 57 (classed as 'Excellent') – testament to its continued efforts to build a bank that staff and customers can be proud to belong to.

Jon Hall says:
“We still feel like we are only just getting started, but it’s important both for our team and customers to celebrate these moments and say thank you for their support.’’