New Masthaven secured/bridging ‘fusion’ deal

Published on

paul-brett

Masthaven Group has unveiled a new hybrid product, which is claims to be a unique blend of bridging and secured loan.

The lender says the deal is particularly aimed at helping intermediaries with clients requiring access to fast funding for credit repair, immediate payment of tax bills and school fees as well as many more traditional bridging finance applications.

Features include:

  • Loans up to £250,000
  • Secured against residential property
  • Maximum term 12 months
  • Up to six units of adverse credit (depending on exit)
  • Refinance to longer term as a secured loan subject to status

Paul Brett (pictured), director of sales of Masthaven Secured Loans, said: “We are particularly proud to bring this new product to market, as it demonstrates how the bridging and secured loan sectors can cooperate to the advantage of the customer.

“This initiative plugs a gap that we identified with feedback from our bridging and second charge introducers. Masthaven is showing that innovation and lateral thinking in designing lending solutions will be at the heart of our strategy in 2014.”

Richard Deacon, sales director for Masthaven’s bridging division, added: “As a company, we are committed to being quick to recognise opportunities to offer innovative product solutions, and this new collaboration will be the first of a number of initiatives from Masthaven.

“Brokers look to lenders for different strengths and we are a company building a deserved reputation as a product ground breaker backed by a strong service ethic.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...