Masthaven Bridging Finance completed on £6 million of bridging loans on 31 January, the day the football transfer window closed.
First to complete was a £2.4 million loan for a residential purchase of £4.5million for financial services distributor Brilliant Solutions.
Andrew Edwards of Brilliant said: “Brilliant Solutions recommended Masthaven to the introducing broker and their client for this deal due to a number of factors. Whilst the deal was the best for the client from a rate and fees point of view, Brilliant also knew that Masthaven would be able to offer the speed and flexibility to process a loan of this size in a timely and professional manner.
“Based on the experience of a previous transaction we had placed with Masthaven for the same broker, all parties went into this loan full of confidence that Masthaven would deliver on what they promised at the outset.
“Brilliant Solutions and the underwriting team at Masthaven worked together to get this case across the line. Even a last minute issue did not delay release of funds as Masthaven’s legal team pulled out all the stops to enable the funds to be sent out at very short notice.”
Matthew Arena, managing director of Brilliant Solutions, added: “This is an example of the lender, distributor and broker working together to get the best deal for all concerned. Not only did the client receive more favourable terms, but the broker earned more for this case than he would by going to a lender directly due to the excellent relationship between Masthaven Bridging Finance and Brilliant Solutions.”
Next came a £2.85 million loan that was also on a residential purchase, which Masthaven said was a straightforward deal. These were topped of with a £425,000 loan and several smaller ones.
Richard Deacon, sales and marketing director of Masthaven, said: “When all eyes were on Jim White and the team at Sky Sports News, Masthaven towers was a hive of activity ensuring all loans got paid out in a timely fashion.
“It is a sight to behold when both introducing broker and underwriter are working as a team to get over the final hurdle and provide the client with the funds they require.
“The larger deals are always the headline makers, but for Masthaven it is a day to day occurrence which we hope to continue throughout the year.”
