Masthaven completes its fastest bridging loan

Masthaven has completed a £233,552 bridging loan at 60% LTV within 48 working hours.

The specialist bank teamed up with packager TFC Homeloans and Lightfoots Solicitors to turn around its fastest bridging loan.

Masthaven was approached by TFC at close of business on Thursday 16th November with an extremely urgent case.

TFC packaged the case and worked with Masthaven and the broker to ensure the timescales were met, which enabled the bank to release the funds by close of business on Monday 20th November.

“It’s cases like this – when short-term lending wins the day – which highlight the vital role that bridging can play,” said James Bloom, managing director of short-term lending at Masthaven (pictured above).

“It’s a perfect example [of] what can be achieved in a very short space of time, when a high-performing team is given clear instructions.

“The end result was a delighted customer.”

Ian Balfour, sales and marketing director at TFC Homeloans, added: “The success of this case is a clear demonstration of our abilities and what can be achieved with teamwork.”

Joe Middleton, partner at Lightfoots, added that early and clear communication was key to the deal.

“Most bridging instructions are time critical to some degree, but making early contact with the borrower’s solicitor – telling them exactly what we required, by when – gave them the guidance they needed.

“Being able to dedicate several team members to this meant things progressed swiftly, and we could work on both the administrative and technical elements in tandem.

“This ensured the case was always moving forwards in the direction and timeframe being sought.

“This is an excellent testament to how multiple people with an aligned target can deliver under even the tightest of timeframes.”

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