Masthaven Bridging Finance secure funding line from Saffron Building Society
Masthaven Bridging Finance has recently entered into a facility agreement with Saffron Building Society where Saffron has agreed to provide a funding line in order to support the continued growth in Masthaven’s loan book.
The extra funding will further enhance Masthaven’s ability to offer market leading bridging loans alongside their residential renovation and development lending.
Established in 1847, Saffron Building Society has 12 branches in the South East of England and has upwards of £1 billion under management. Saffron has a reputation for always taking an innovative approach to lending.
Masthaven have been a principal lender since 1983 and gained FSA authorisation at the start of 2011. The Saffron investment comes in the same year that Masthaven obtained significant funding from the William Pears Group, which is owned by the Billionaire Pears’ brothers.
Andrew Bloom, Managing Director of Masthaven, told of the deal “This is great news for Masthaven. The extra funding provided by Saffron will ensure that we continue to increase our product offering and our focus on residential renovation and development projects”
Jon Hall, CEO of Saffron comments, “We view bridging loans as being hugely important to the housing market. The bridging loans market is performing well, and it is my hope that our funding will enable Masthaven to inject additional support in to this burgeoning market, assisting home buyers and movers for whom a bridging loan makes all the difference”.