This additional regulated funding line will allow Masthaven to service the increasing number of regulated bridging loan enquiries that it receives from the intermediary market.
Linked with Masthaven’s application the multi-award winning company was recently visited by the FSA who carried out a full inspection.
This was to ensure Masthaven was treating customers fairly and their lending policies meet the high standards demanded by the FSA.
Considering the problems other regulated lenders have had with the FSA the company said it was reassuring that its new lending entity was granted authorisation within six months of its original application.
Richard Deacon, sales and marketing director, said: “This is fantastic news for the group.
“In recent times there have been many column inches written about the importance of your chosen bridging lender being regulated and hopefully this will keep us at the forefront of the introducers’ minds who write regulated bridging loans.
“It is no secret that we are aiming to increase the level of FSA regulated lending that we write, and with our recent increase in funding lines, award winning service, and “can do” attitude we are very well placed to achieve this.”
