Masthaven Bridging Finance has entered into a facility agreement with Saffron Building Society.

The mutual is providing a funding line in order to support the continued growth in Masthaven’s loan book.

Established in 1847, Saffron Building Society has 12 branches in the South East of England and has upwards of £1 billion under management.

Masthaven have been a principal lender since 1983 and gained FSA authorisation at the start of 2011. The Saffron investment comes in the same year that Masthaven obtained significant funding from the William Pears Group.

Andrew Bloom, managing director of Masthaven, said: “This is great news for Masthaven. The extra funding provided by Saffron will ensure that we continue to increase our product offering and our focus on residential renovation and development projects.””