clifton private finance

Clifton and Masthaven complete £2.27m bridging loan

Clifton Private Finance has secured a £2.27m regulated bridging loan from Masthaven Bank for a client looking to buy a recently developed bard in Oxfordshire for investment purposes.

The borrower required the funds urgently, as he had already exchanged on the purchase, but saw the sale of one of his BTL properties — which was going to fund the acquisition — fall through.

Masthaven was able to provide the facility at 34.76% LTV and 0.43% pm over a 12-month term.

The loan was secured across two of the client’s BTL properties and his residential home to achieve a better interest rate.

Fergus Allen, finance broker at Clifton Private Finance (pictured above), said: “We were delighted with Masthaven’s process and handling of this case. 

“Taking a common-sense approach to the deal and working tirelessly to get it done left the client with a positive impression of not just Masthaven, but of short-term lending as a whole. 

“When you’re working against the clock on a high value deal, you can always be proud when you’re able to deliver a high standard of service and meet the client’s expectations. 

“This is a good example of why rate versus speed doesn’t necessarily have to be the case — with a broker that knows the market and a motivated lender, the client can have both.”

Neil Molyneux, head of sales at Masthaven, added: “We’re really happy to have been able to support Clifton and the borrowers with this purchase. 

“This case is another great demonstration of the fact that, in the right circumstances, bridging loans can be a powerful tool to support customers, giving them more options and the flexibility they need.”

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