Masthaven gives Promise three new lenders in three weeks

Robyn Hall

August 30, 2012

This is double the number of lenders typically supported by other sourcing platforms and maintains Promise’s position as offering introducers the widest secured loan panel in the UK.

Steve Walker, managing director of Promise, said: “The fact we have added three new lenders in such a short time is great news for the industry and we have another innovative product scheduled to go live next week.

“The addition of a new entrant like Masthaven is particularly exciting.

“We already have a relationship with the bridging team at Masthaven and find their process and service excellent. We therefore have high hopes that Masthaven will quickly establish itself as one of the main lenders as its products develop.

“The new products fill some useful niches for our introducers, particularly regarding second charges on Buy to Let’s which is an area I see as an opportunity for other second charge lenders.

“Masthaven also brings competition to the market from a lender with high aspirations which has got to be good news.”

Stuart Aitken, COO at Masthaven Secured Loans, added:0 “Masthaven is initially rolling out to a small number of partners but recognises the importance of making our loans available to the mortgage intermediary market and of having a presence on the key loan sourcing portals.

“Promise is a leading provider of free loan sourcing technology for mortgage brokers, and we are delighted to be able to offer our secured loan products through their system.

“We know the Promise team have secured loan experience dating back to the 1980’s and we are looking forward to delivering a quality product and service via Promise to the Mortgage intermediary and IFA sector.”

As of today, brokers registered with Promise can obtain accurately underwritten online quotes from Masthaven or talk to the Promise team regarding potential applications.

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