Bridging lender gets multi-million pound injection from property giant

Bridging lender gets multi-million pound injection from property giant




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A London-based bridging lender announced yesterday that it has received a multi-million pound capital injection, as well as additional bank funding.

Masthaven Bridging Finance has completed a ‘significant’ transaction with the William Pears Group, a private property management company. The transaction involves an undisclosed eight figure investment being made into Masthaven, which is an additional boost alongside the company’s additional bank funding.
The William Pears Group will now take a direct stake in Masthaven Group Ltd, with Michael Baker, Finance Director of Joint Ventures for Willam Pears Group, joining the board of Masthaven as a Non-Executive Director.
Andrew Bloom, Managing Director of Masthaven, said: “For the last 18 months Masthaven has been looking for a strategic partner to assist in our growth plans. Our decision to partner with the William Pears Group is not just because of their deep pockets but also their extensive knowledge of the property market”.
Mark Pears, of William Pears Group , added: “Masthaven has been one of the few bridging finance lenders to successfully weather the recent economic storms, Andrew Bloom and his team has impressed me with their professionalism and commitment to grow the business.”
Having recently obtained FSA regulated status, Masthaven plan to use the capital injection to take advantage of their new regulated lending capabilities.
Broker Bob Havenhand, of South Yorkshire Property Consultants, said: “When it comes to regulated deals there are very few lenders. There are only three bridgers that spring to mind and also limited regulated bridging from high-street banks such as RBS private bank.
"All things considered, it's great to have Masthaven in competition with the existing lenders, and they should take a good portion of business if their products and administration is as good as usual.”

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