Masthaven has revealed that 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”.

It has also generated £1bn of loan applications and opened over 15,000 savings accounts since launch, retaining 70% of savings accounts.

Meanwhile, the London-based team now has 170 colleagues.

Hall said: “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.”