Exclusive commercial product launched

Exclusive commercial product launched



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A London based bridging lender has agreed a new commercial bridging product, exclusively for members of the NACFB.

The recently FSA regulated Masthaven Bridging Finance has agreed a headline rate of 1.1% per month for all commercial bridging loans that can satisfy 4 simple criteria points.

Those points are that the property and/or business must be income producing, and that the owner or 3rd party tenant must have a good local covenant. The LTV is up to 50% and the minimum loan size is £150,000.

Together with their usual criteria of no exit fee and daily interest, Masthaven are hoping that this product breathes new life into what has been for too long a slow and lethargic financial sector.

Richard Deacon, Sales and Marketing Director of Masthaven, said: “Commercial bridging finance is a sector that Masthaven are really keen on getting more involved in. We have worked with the NACFB for a number of years and have developed a very strong relationship with their members.

“This is us putting something back into the industry and shows how committed we are to the future of commercial finance, which we believe is very much on the up and up.”

Adam Tyler Chief, CEO of the NACFB, added: “ We have been looking to establish exclusive arrangements for our members and we welcome this offer from Masthaven.

“Commercial Bridging is a great market for those who are established in that area and the NACFB will encourage our members to look at this opportunity from our current winner of the NACFB Short Term lender of the Year Award.”

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