James Bloom

Masthaven aims for 'substantial' short-term lending growth in 2018

Specialist bank Masthaven is set to expand its team in a bid to increase its short-term lending business substantially this year.

The lender’s short-term lending division – which currently consists of a 30-strong team – is looking to take on an extra 10 staff this year to help it to achieve its growth plans.

Masthaven also launched its new Bridging Plus products for loans over £750,000 in February.

James Bloom, managing director of short-term lending at Masthaven (pictured above), said: “We kickstarted 2018 with the launch of a new exclusive product and we have been pleased to see how well it was received by the market, with a number of cases paying fees within the first two weeks of the launch.

“This is a prime example of how we are constantly researching gaps in the market and designing new products to meet the needs of our customers and brokers. 

 “In order to keep up with the increasing demand for our products and services, we are recruiting more experienced underwriters this year.”

James explained that individual manual underwriting was a key ingredient to best practice in the short-term lending space – both from a risk factor and a customer experience point of view.

“All our cases are assigned an individual underwriter so that [we] can deliver the best products for each case as efficiently as possible.”

Masthaven’s short-term lending division is also looking forward to more changes this year.

James added: “We are exploring a number of different products and are working hard to make sure all our new propositions are right for our customers.”

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