Masthaven Bank completes two largest second charge loans

Mortgage Introducer

August 24, 2018

Masthaven Bank has completed two of its largest ever second charge loans in less than a month of one another.

The first, introduced by The Loan Partnership, totalled nearly £600,000 and went from Masthaven receiving the case to final offer in less than a week. The offer, including fees, was secured against an LTV of 65% and was successfully completed in just six days.

This agreement was then topped a few weeks later by a case introduced by Y3S Loans, whereby a client needed a fast turnaround on a refinance on their existing loan, plus additional borrowing, to secure a holiday home in France. Secured against an LTV of 65%, the offer, including fees, totalled just over £700,000 and went from case to offer in just two and a half days. This is a record-sized loan, completed in record-time for the specialist lender.

Dan Miller, underwriting manager at Masthaven, said: “Both of these cases were processed seamlessly and are testament to our strong relationships with our partners.

“The Loan Partnership and Y3S provided us with detailed customer data before the cases were submitted and their excellent packaging skills meant the cases sailed through to offer.

“Both customers were absolutely delighted that we managed to turn the offers around so quickly and praised Masthaven’s bespoke and flexible approach to lending.

“When presented with large cases such as these, we always consider each customer’s needs and look for ways to say ‘yes’ – in these cases it was a super-speedy yes!”

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