The recently FSA regulated lender has agreed a headline rate of 1.1% per month for all commercial bridging loans that can satisfy four simple criteria points.
Those points are that the property and/or business must be income producing, and that the owner or 3rd party tenant must have a good local covenant. The LTV is up to 50% and the minimum loan size is £150,000.
Together with its usual criteria of no exit fee and daily interest, Masthaven is hoping that this product breathes new life into what it says has been, for too long, a slow and lethargic financial sector.
Richard Deacon, sales and marketing director of Masthaven, said: “Commercial bridging finance is a sector that Masthaven is really keen on getting more involved in. We have worked with the NACFB for a number of years and have developed a very strong relationship with their members.
“This is us putting something back into the industry and shows how committed we are to the future of commercial finance, which we believe is very much on the up and up.”
Adam Tyler, NACFB chief executive, commented: “We have been looking to establish exclusive arrangements for our members and we welcome this offer from Masthaven.”
