Masthaven has announced the roll-out of its Bridging Plus short-term lending product to the wider market.
The decision following a soft launch with key brokers. The bank’s larger loan proposition was launched in February for Premier Partners.
Bridging Plus loans are available from £750,000 up to £5 million, with commission at 1.5%, up from 1%.
James Bloom, Masthaven’s managing director of short-term lending, said: “Today we’re launching Bridging Plus to the wider market and we are fully confident that we have the systems, knowledge and resources in place to manage demand.
“Launching the product with our key brokers a few months ago helped us pilot the product and we gained feedback invaluable experience by working on some sophisticated cases that really tested us.
“Brokers considering Bridging Plus can do so in the full knowledge we’re confident it’ll be a success. Bridging Plus is just one example of Masthaven’s appetite for innovative products that meet real need, providing fast, flexible finance driven by intelligent underwriting.”
Kit Thompson, director of short-term lending and development at Brightstar, added: “As one of the first partners to use Bridging Plus, we’re delighted to now see it extended to the rest of the market.
“Our experience of the proposition has been testament to Masthaven’s people-first philosophy, striving to offer real products that meet genuine need.
“We’re sure other brokers will find Bridging Plus an essential addition to their product suite.”
