After entering the Scottish market in January of this year, the FCA regulated bridging finance provider has increased its lending appetite in Scotland to incorporate the financial options it currently facilitates for in England and Wales.

Richard Deacon, Sales & Marketing Director at Masthaven, said that the move had been planned over several months and really emphasises how Masthaven listens to its brokers and why it won the Best Bridging Proposition Award at the coveted Bridging & Commercial Awards this year.

The additional options now available will include:

-    Commercial bridging;

-    Second charge bridging on residential property; and

-    Renovation and refurbishment projects.

This compliments the already strong lending on FCA regulated and non-regulated first charge lending, up to 70 per cent LTV.
Richard told B&C: “Brokers have been screaming for more lenders and options in Scotland and with brokers accustomed to us and knowing our criteria, Masthaven is becoming a fully universal lender with this expansion.”

Richard added: “Masthaven has been lending in Scotland for nearly a year now and we are confident of both the geographical areas we are lending in, and the housing market itself. As an FCA regulated lender, we are one of very few who lend in Scotland on both a regulated and non-regulated basis. Every deal needs to be looked at on its own merits, and whilst we are not going to lend everywhere, we will always look to see why we can do the deal as opposed to why we cannot.

“It’s exciting times at Masthaven, we have just moved into bigger offices to cope with our increased proposition, which ties in nicely with our expansion into Scotland.”