Frequently Asked Questions

Where does Masthaven Bank operate?

Masthaven Bank is based solely within, and does not operate outside of the United Kingdom.

What hours are you open?

Our telephone lines are open 24 hours a day, 365 days a year. Our specialist teams are available Monday–Friday from 9am to 5.30pm.

Do you have any branches?

We don’t have any high street branches. However, we're always available by phone, email or post.

What types of lending do you consider?

We can provide short-term bridging and development loans for residential property, renovation and refurbishment, development work and commercial properties. 

Why have I received an email from Feefo?

We use the Feefo review service to collect genuine feedback from our customers, this allows us to improve our customer service and make changes that you know will make a difference. Please note that we will never ask for your personal information via email.

Are you a principal lender?

Yes, the funds that we lend are our own.

Why should I borrow from you, rather than a high street bank?

We’ve been providing a flexible and personalised approach to lending since 2004. We understand that everyone has different financial needs and work to offer a quick, simple and personal service.

How long has Masthaven been established?

Our specialists have decades of experience in lending. Masthaven has been providing short-term finance since 2004, but we are now bringing that expertise to retail banking. We’re committed to providing flexible and fixed term savings accounts, bridging loans and development finance as well as first charge and second charge mortgages.

Where can I obtain your contact address?

You can obtain out contact address by visiting the contact us section of the site. Here you will find all of our contact details, including our contact address at the bottom of the page.

How do I know my money is safe?

Any savings you have with Masthaven Bank are protected by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This protects eligible deposits up to a total of £85,000 per person.  To find out more about this protection go to the FSCS website.

Why can I only open an account over the internet?

With online account opening you can open a Fixed Rate Bond within 10 minutes and start earning interest right away.  As well as putting you in control of your money, it also lets us consistently offer highly competitive interest rates.

What are the rates for your Fixed Term Savings Account?

The rate of interest you'll earn depends on the type of Fixed Rate Bond you opened. To see our current rates please go to our savings page.

Can you provide Large Print/Braille?

No problem! Call us on 0330 363 6666 or email us at [email protected] and we'll be happy to help.

What is a nominated bank account?

Your nominated account is the bank or building society current account you'll use to transfer funds into your account at Masthaven. This can be any UK current account in your name, as long as we can verify it when you make your application. You can only have one nominated account and can't transfer funds from another account. We will also use this account to send your savings to you at maturity. You can change this account anytime, as long as it is at least 7 days prior to your Fixed Rate Bond maturing.

How do you pay interest?

Monthly interest is credited at the end of the month after you make a deposit and at the end of every subsequent month. Annual interest is paid on the anniversary of the Bond and at maturity.

How do I transfer funds into my account?

Funds can be transferred into your Masthaven Savings Account by electronic transfer or debit card. Electronic transfer from your nominated bank account can be made using Faster Payments, BACs or CHAPS. You can make as many deposits as you like for 7 calendar days after a successful application, provided you stay within the product maximum of £250,000. Once the 7 day funding window is closed, you will no longer be able to transfer funds to your account.

What sort code and account number do I use when transferring funds into my account?

In order to transfer funds to your account please use our Masthaven Bank sort code (23-14-51) and your Masthaven Bank account number. Your Masthaven Bank account number will be personal to you supplied when you open a Masthaven savings account.

Please note that there is a 7 day funding window to deposit funds into your account. Once the 7 day funding window is closed, you will no longer be able to transfer funds to your account.

Can I deposit money by sending you a cheque?

No, we do not accept cheques. As we are a digital bank you are able to deposit funds by electronic transfer or debit card.

Can I have multiple savings accounts with you?

If you wish to save more with Masthaven, you can have numerous savings accounts with us at one time. However, there is a maximum total balance of £1,000,000 that you can have deposited across all of your fixed savings accounts with us at any one time. Any accounts held jointly, or funds held in a joint account, will count towards each of your own individual limits.

Are there charges associated with your savings accounts?

We won't charge you for operating a savings account with Masthaven Bank. However, there is an additional charge for making a same day CHAPS payment of £30. See our Savings Tariff of Charges here.

All my utility bills are electronic/in my partner’s name. What will you accept to verify my address?

Don't worry. If you don’t have this documentation, please give us a call on 0330 363 6666 and our specialist team will be able to help you.

I don’t know anyone in the professions list you provide, is there anyone else who can certify?

The Post Office offers a Document Certification Service. You can also call us on 0330 363 6666 and our team will be pleased to help you.

How can I be sure my account details are safe with you?

When you call us we will ask you to a few security questions so we are confident that it is only you that we are talking to. We will never ask you to provide your security details via email.

If I have a sole account, can I also have a joint account?

Yes, you can hold both sole and joint accounts.

For a joint account, can either of us access the account?

Joint account holders each have individual login details. Both account holders can access the account at any time. To ensure your security we give each account holder their own login details.

If I’m a basic rate taxpayer and my partner is a higher rate taxpayer, which allowance applies to our joint account?

In this scenario, the interest earned is assumed to be split equally between you.

How do I notify you that my partner/family member has passed away?

In this event, please do call us on 0330 363 6666 and our specialist team will be here to assist you.

Will I receive any confirmation that my account has been opened?

When you open your account, you will receive confirmation both online and through a confirmation email. 

I've received an email from you, how can I be sure that it's safe?

We’re always working to help keep your account safe and secure. That’s why we make sure all emails we send are from a secure source and carry the Masthaven brand. Please note that we work with the Feefo review service for collecting customer reviews. We will never ask you to reveal your personal security details by email.

I'm concerned I may have given my personal details on a hoax e-mail, what should I do?

Contact us immediately on 0330 363 6666. Alternatively, you can log on to your Masthaven eBanking portal and send us a secure message.

Is my email statement secure once I've opened it?

Once you’ve opened your email statement it’s no longer covered by Masthaven bank security, so please make sure your computer Anti-Virus software is up to date and that your computer is secure.

How long will it be before I have a response to my secure message?

When you send us a secure message through Masthaven online secure messaging portal we'll reply you within one business working day.

You can send a secure message by logging into your Masthaven eBanking account and selecting 'Message Centre' which you'll find under 'Help to manage your account' box on the right hand side of the page.

What do I do if my secure message is longer than the maximum allowed?

There is a maximum of 1000 characters for each secure message. If the secure message you send us through your Masthaven eBanking account is going to be longer than the maximum limit allowed, please tell us at the end of the first message that it will be continued in a second message. However, in order to avoid any possible confusion we recommend that you write the message within the 1000 character limit if possible.

Where can I find the secure messaging service?

To send us a secure message, log into your Masthaven eBanking account and select 'Send a Secure mail' which you'll find on the right hand side within the 'Contact Us’ box.

I've forgotten my Password, how can I reset my password?

If you have forgotten your password, please click on the forgotten password link on the login page of the portal and follow the instructions provided.

If you still can’t remember your password, please contact us on 0330 363 6666. 

I've forgotten my Masthaven online memorable word, what do I do?

If you have forgotten your Customer ID and Memorable Answer, please contact us on 0330 363 6666. 

How do I unlock my account?

To unlock your account you can click on the forgotten password link on the login page of the portal. We will then ask you for your Customer ID to identify you.

This will be used to send a password HINT email to your registered email address on our system.

You can then use this password HINT to remember your password and login

If you still can’t remember your password, please contact us on 0330 363 6666. Our specialist savings team are available to help you and they can be contacted Monday-Friday, 09.00am-17.30pm on week days and all working days throughout the year.

What information do I need to log into my Masthaven online account?

You will need your

  1. Your username/ID number
  2. Your unique password
  3. Your memorable word

Can I get a paper copy of my statement?

To obtain a paper copy of your statement you need to contact us on 0330 363 6666. Alternatively, you can log on to your Masthaven eBanking portal and send us a secure message. 

I don’t recognise a transaction(s) on my statement, what should I do?

If you don't recognise the transaction please contact us on 0330 363 6666.

Alternatively, you can log on to your Masthaven eBanking portal and send us a secure message and we will contact you.

Can I use any browser to go onto the Masthaven site?

The list of browsers you can use to access our website are Internet Explorer, Firefox, Google Chrome, Opera, and Safari.  

Where do you lend?

We lend in England, Wales & Scotland (Scotland will be assessed on a case by case basis).

How long will it take for a decision?

Our broker portal enables you to generate an illustration within a few quick steps. Our automated system will generate a decision in principle based on the applicants income and credit profile. Our online affordability model and integrated credit search allows for a full online mortgage application.

What type of mortgages do you consider?

We offer 1st and 2nd charge residential and 2nd charge buy to let

Will you always require a full valuation?

Not always. In some cases we may be able to accept an automated valuation, making the process quicker and easier for your applicants.

Do you allow fees to be added?

Yes. The applicant can choose whether they wish to pay any associated fee up front, or include them in the monthly payment.

Can the borrower settle anytime?

Yes. Some products are subject to an early repayment charge. Please refer to our product guide for further information on our products.

Can the loan be ported if the borrower moves?

Yes, subject to conditions. Please refer to our Underwriting Guide for further information.

Will you lend in sole names to a married client?

Yes, subject to the non-owning spouse obtaining legal advice and signing a waiver

Where do you lend?

We lend in England, Wales & Scotland (Scotland will be assessed on a case by case basis).

What do you lend against?

We lend against residential and commercial properties.

Please note that where the security is your residential home, your home may be repossessed if you do not keep up repayments on your bridging loan.

What do you require?

To enable us to send you a credit approved decision in principle, we need a completed bridging finance enquiry form. Once the form has been completed please email it to [email protected]

How long does it take?

The time taken to complete a bridging loan depends on the borrower’s requirements. They can complete within a few days of the first enquiry but this requires all parties to work together and for the valuer to have immediate access to the security property. Our solicitors will assist the borrower’s solicitors as required.

Are there any upfront fees?

In most cases, the only upfront cost to the borrower is the valuation fee, and legal fees.

Can I change my payment date?

In most circumstances, loan repayments are rolled up within the loan. For those clients wishing to pay monthly, yes, the payment date can be changed.

Can I borrow additional money?

Providing there is sufficient usable equity within the security property, a further advance may be approved.

I have a short term loan with you - can I extend it?

All extensions to short term loans are considered on a case by case basis.

Does my customer need an exit in place?

The exit or repayment method is perhaps the most important aspect of a bridging loan. There must always be a realistic exit but it does not have to be in place when the bridging loan draws down. For example, if the loan is to be repaid by the sale of a property, contracts do not have to be exchanged. It is usually enough that the property is being marketed.

What can the loan be used for?

Bridging loans can be used for any lawful purpose. However, we are unable to help with “credit repair” cases.

Do you have early repayment charges?

The loan can be repaid at any time without penalty or early repayment charges. We usually require a minimum of just the first month’s interest.

Can you lend to LLPs, SPVs, trusts, SIPPs or offshore companies?

We are able to lend to all of the above, subject to due diligence. Personal guarantees are required for loans made to any of the above entities.

How long will it take for me to get a decision?

We employ property housing specialists who will efficiently appraise a project based on the key information. We can issue a formal letter within 24 hours of approval.

How quickly can funds be advanced?

The average time is usually 2 weeks, but we could possibly send funds within 2-3 working days of an offer letter being accepted if the borrower’s solicitor has all of the relevant documents.

What percentage of site purchase and construction costs can Masthaven cover through a development loan?

The percentage we lend towards a site purchase depends on each individual facility. We can lend up to 100% of the construction costs.

What are the costs?

Nothing has to be paid until terms have been accepted, so we can immediately progress the legal and valuation fees that are payable. These will be directed to our expert teams and paid over the phone by debit or credit card. There is a typical arrangement fee of 2% that is deducted from the first advance. The loan will also have a fixed interest rate during the period that the sums are borrowed, which will be agreed individually with the borrower. The project will also have surveyors and solicitors fees.

Where do you lend?

We lend in England, Wales & Scotland (Scotland will be assessed on a case by case basis).