Clients, who were badly advised in the past, have refinanced their short term borrowing into a more satisfactory deal with Masthaven.

Richard Deacon, sales director at Masthaven Bridging, explained that Brightstar Financial’s Andy Jacovou approached Masthaven as his broker’s clients had found themselves in a difficult position, as they had taken a bridge with another lender for just under £1,000,000.  Although the loan wasn’t time expired, they had been very poorly advised when taking it out and were paying extremely high monthly interest rates which they were finding hard to keep up.

He said: “Andy Jacovou at Brightstar approached us trying to help his clients get the best rate and ease their monthly expenditure while they waited for their home to sell.  We were happy to help and both Masthaven and our legal team worked well with Andy to pull out all the stops to get this loan across the line and enable completion to take place in time. Even with a last minute hiccup on the legal side, we did not delay the release of funds.”

Kit Thompson, director of bridging at Brightstar, added: “Andy deserves a lot of credit for keeping this case on track but the relationship with Masthaven was particularly important with their underwriter, Gemma Salousti, working very closely with Andy to make sure the clients were not disappointed.”