The specialist bank revealed that it has lent a further £22.5m of development finance to 70 SME housebuilders.

The lender received 3,276 decision in principles for bridging and development finance to the value of £1.48bn and 863 applications with a value of £265.2m in the same period.

Since launching as a retail bank on 28^th November 2016, Masthaven has completed 956 loans across all areas of lending for a total value of £193.3m.

 “I’d like to thank all our customers for choosing to bank with Masthaven, and our intermediary partners for supporting us during the past 12 months,” said Jon Hall, managing director of Masthaven (pictured above).

•   James Bloom appointed MD of short-term lending at Masthaven
•   Andrew Bloom and Jon Hall take part in the Great North Run
•   Bank completes its largest bridging loan with Only Bridging

“The transition to a bank has enabled us to offer a powerful range of lending solutions – from bridging and development finance to both second and first charge mortgages.”

Masthaven received £425m of mortgage decision in principles and 1,239 applications with a value of £148.3m with 509 completions.

“Technology enables us to do our jobs efficiently and deliver great customer service,” added Jon.

“We’re delighted that we have successfully managed to blend digital with great human skills to deliver our own style of best-in-class service.

“This is played out in the feedback from our satisfied customers.”

Masthaven said it would continue to review and challenge the lending sector in 2018 to perform for those borrowers that don’t fit the ‘box-ticking’ approach of many lenders.