Masthaven expands regulatory lending
Masthaven Property Lending has obtained authorisation from the Financial Services Authority for regulated mortgage contracts.
This additional regulated funding line will allow Masthaven, which is a subsidiary of Masthaven Group, to service the increasing number of regulated bridging loan enquiries that it receives from the intermediary market.
Masthaven wrote its first loan in 1983 and became FSA regulated in January 2011. The FSA recently carried out a full inspection to ensure Masthaven was treating customers fairly and its lending policies meet the high standards demanded by the regulator.
Considering the problems other regulated lenders have had with the FSA, Masthaven said it was reassuring that the new lending entity was granted authorisation within six months of its original application.
Richard Deacon, sales & marketing director at Masthaven, commented: “This is fantastic news for the group. In recent times there have been many column inches written about the importance of your chosen bridging lender being regulated and hopefully this will keep us at the forefront of the introducers’ minds who write regulated bridging loans.
“It is no secret that we are aiming to increase the level of FSA regulated lending that we write, and with our recent increase in funding lines, award winning service, and “can do” attitude we are very well placed to achieve this”