Lottery winners turn to bridging finance specialists to maintain new lifestyle

Lottery winners turn to bridging finance specialists to maintain new lifestyle




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A London-based short term lender proved even lottery winners need a helping hand sometimes, by lending a pair of newly-made millionaires £1.25 million.

Masthaven Bridging Finance, who recently moved offices to Mayfair, completed on the loan last week. The borrowers had become multi millionaires two years ago thanks to a big Lotto win, but needed the extra finance to complete renovations they had been carrying out on their substantial country retreat.

 

Richard Deacon, Masthaven Sales and Marketing Director, said: “It’s everyone’s dream of winning the lottery and buying a nice big house in the country. Our clients had some very extravagant and expensive ideas about how to make this property their dream home.

 

“These days it is quite rare for these larger £1 million plus loans to actually complete, but this was a magnificent property and a very smooth transaction.

 

“The fact that we completed this loan in seven working days from receipt of legal fees goes to show how quick and efficient bridging finance can be.”

 

John Phillips of Brokers Kingswood Associates, who arranged the deal, said: “We were delighted with both the speed of the service Masthaven provided and their attention to detail, so the loan not only completed very quickly but, crucially, there were no hidden surprises at the end. 

 

“Our Commercial Manager, Diane White, who dealt with the loan from enquiry to completion, has nothing but good things to say regarding the whole team there and I know she is looking forward to continuing to place deals with them.’’

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