Masthaven will be launching its new specialist development finance division later this year.
James worked at Regentsmead for 29 years, where he grew the privately owned business to become a substantial player in the market, as well as creating a short-term lending department.
His role takes effect on 6th July.
Commenting on his new role, James said: “After nearly 29 years at Regentsmead it would have taken something incredibly exciting for me to leave.
“I could see this was the very special business which I would be delighted to join.
“We are going to be re-launching our development and refurbishment products – combining low cost of funding with a five-star service to create a market-leading proposition.”
Jon Hall, Managing Director of Masthaven Bank, added: “We are delighted to have attracted James, as one of the best known players in this marketplace, and to have persuaded him to join our exceptional, and growing, leadership team.”
After announcing in April that it had been granted its retail banking licence, Masthaven Bank confirmed it will offer savings accounts to customers within 10 minutes and will continue to offer specialist second charge mortgages via its intermediary partners.
It was also revealed in April that Masthaven COO Stuart Aitken was to retire in May. He has been replaced by Al Southall.
Masthaven Finance started lending in 2003 and has specialised in first and second charge residential, buy-to-let (BTL) mortgages and short-term loans, as well as regulated and BTL bridging loans, renovation and refurbishment regulated loans and regulated development (including self-build) loans.
1 Comments
PETER JOHN BELL
I have a development opportunity providing security. A 5 bed detached house in Mill Hill agreed at a sale price of £1,065,000, a little tidying and fencing off a plot on half of the garden. Resell the house for £1,117,500 giving security and a profit and a development plot without cost. The plot will accept a detached house of 5 beds and will be approved by planning and all the neighbours. The build cost is £370,000 and resale £1,300,000 giving a profit of £930,000. The estate agents in the area tell me they sell houses every day for this value as most of the houses in Mill Hill are in this price band. The plot value is £500K and increases in value as the build progresses, so is self securing and would be in the funders name. I need finance to build this house, can we talk? Peter Bell