Masthaven has operated as a principal intermediary-focused lender since it was established in 1983 meaning Paradigm members will gain from its vast amount of experience on all aspects of bridging finance.
The addition of Masthaven to the Paradigm bridging panel provides members with a lender which offers:
• One low rate of 1.25% per month for all residential first-charge lending irrespective of LTV, property types and status.
• First-charge lending on commercial property at 1.45% per month.
• Provision of second-charge loans at 1.5% per month.
• LTV based on a combination of open market value and purchase price; 100% LTV is available.
• No exit fees; low legal fees; valuation and legal fees at cost; and interest charged daily.
• Consideration of most security, including residential and commercial.
To mark the addition of Masthaven to the panel, Paradigm members can now access exclusive product terms throughout the next month. Throughout April the cost of the valuation will be refunded on all completions, saving clients as much as £1,385.
John Coffield, Head of Paradigm Mortgage Services, commented:
“We are delighted to announce the addition of Masthaven to Paradigm’s bridging panel. There are few more established bridging lenders available in the marketplace today and members looking to access bridging finance for their clients will find an adviser-focused service from the Masthaven team. Masthaven has been operating in the market for over 25 years ensuring they have the necessary experience to deal with all types of bridging finance cases. Like Paradigm, innovation is at the heart of its operation and, given the nature of bridging finance, speed of completion is also a significant USP for the lender. Given the nature of our new partnership, we are also pleased to offer an exclusive offer for all Paradigm members using Masthaven which will see the cost of a valuation refunded on all completions to the client. This could be a significant saving and those members looking to find out more about the Masthaven proposition, should certainly visit the Paradigm website.”
Andrew Bloom, Managing Director at Masthaven Bridging Finance, added:
“Everyone at Masthaven is extremely pleased to have entered into this partnership with Paradigm. What stands Paradigm apart is the experience of their senior management team and the added value they provide to each of their members.
“Due to the importance of this relationship Richard Deacon, Masthaven's National Business Manager, has agreed to be personally responsible for all enquires. This way there will be single contact point for all of Paradigm's members.”