Masthaven Bank Ltd
 | |
| Masthaven | |
| ISIN | 🆔 |
| Industry | Financial Services |
| Founded 📆 | 2016 |
| Founder 👔 | |
| Headquarters 🏙️ | 11 Soho Street, London, W1D 3AD |
Area served 🗺️ | |
Key people | Andrew Bloom, Founder and CEO Jon Hall, Managing Director Peter Harrison, Chairman |
| Products 📟 | Banking |
| Members | |
Number of employees | 112 (Oct 2017) |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Masthaven Bank Ltd (Masthaven) is a Specialist Bank based in the United Kingdom. Masthaven offers specialist property finance, mortgage lending and digital retail savings. It operates on-line fixed rate and flexible term bonds for UK based retail savings customers, supported by a London based contact centre. It also provides a wide range of lending products via intermediaries including first and second charge mortgages, bridging loans and development finance. Masthaven was granted its UK banking licence in April 2016 by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) and launched as a new bank in November 2016[1].
History[edit]
Masthaven was founded by the current CEO Andrew Bloom and began trading in 2004 as Masthaven Finance. At this time, the company offered a range of specialist mortgages including bridging loans and development finance. By 2005 the business was a full time occupation for Andrew and the London lender continued to grow with the investment of his own cash into the business.
Jon Hall, Managing Director, joined Masthaven in December 2014 as the business started to develop its plans to become a new bank. The company applied to the Bank of England (BoE) for a retail banking licence in October of 2015, which was subsequently granted in April 2016.
In 2015, Masthaven Finance was listed as 240th in the FT’s fastest growing companies in Europe and 81st in the Sunday Times Fast Track 100.
On its first anniversary of 28 November 2017, Masthaven announced its year in numbers, notably £252.5 million in savings and £1.9 billion of lending and mortgage decisions in principle [2].
Operating still as one of the few the UK’s owner-managed banks, Masthaven has formed a strong team, surpassing 110 employees. It has the philosophy of "Human Digital Banking" which provides digital for speed combined with human expertise to achieve personalised and flexible solutions for its customers.
Products[edit]
Masthaven offers the following products
Savings accounts- Masthaven offers a range of fixed term bonds directly to UK consumers via an online-only application platform, accessed through its website. Its fixed terms are for a period of 1,2,3 & 5 years offering interest rates based on the duration of the deposit. It additionally offers a Flexible Term product, which allows customers to select the exact duration of their deposit term – from 6 months up to 5 years – with customers choosing the exact period or date they wish their deposits to mature[3].
Mortgages – Offering both 1st and 2nd charge mortgages – with both residential and BTL options . Masthaven’s approach to the mortgage market is via intermediaries only. Masthaven's aim is to manually assess each application through its specialist underwriting team believing that "one size does not fit all".
Bridging Loan – Masthaven offers both 1st and 2nd charge Bridging finance designed to allow short term finance for the purposes of bridging a property sale, small scale refurbishments and debt consolidation. It additionally offers a Commercial solution in the Bridging finance space. All bridging applications are made through intermediaries and are not direct to consumers.
Development Finance – Masthaven offers 2 Development Finance solutions[4] – for light and full development finance options for larger scale projects such as self-builds, ground up developments and barn conversions. Development finance solutions are offered via intermediaries or direct.
Awards[edit]
Most Innovative Savings Provider - Moneynet Personal Finance Awards – January 2017[5]
Best Bridging Lender - Coreco Awards – January 2017[6]
Marketing Campaign of the year - Bridging & Commercial – June 2017[7]
Regulated Lender of the year – Highly Commended Bridging & Commercial – June 2017[8]
Specialist Lender of the Year – Specialist Finance Introducer Awards 2017[9]
References[edit]
This article "Masthaven" is from Wikipedia. The list of its authors can be seen in its historical. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- ↑ http://www.bankingtech.com/658442/new-uk-challenger-bank-masthaven-opens-digital-doors/
- ↑ https://www.masthaven.co.uk/news/november-2017/a-year-in-retail-banking-masthaven-celebrates/
- ↑ https://www.aol.co.uk/money/2016/11/29/masthaven-new-bank-new-kind-of-savings-is-it-a-good-deal/
- ↑ http://www.financialreporter.co.uk/specialist-lending/exclusive-masthaven-announce-enhancements-to-short-term-lending-solutions.html
- ↑ http://www.moneynet.co.uk/moneynet-awards-2017/
- ↑ https://www.corecogroup.co.uk/the-rocos-coreco-awards-2017/
- ↑ http://www.bridgingandcommercial.co.uk/article-desc-12065_B&C%20Awards%202017%20Winners%20announced
- ↑ http://www.bridgingandcommercial.co.uk/article-desc-12065_B&C%20Awards%202017%20Winners%20announced
- ↑ https://sfiawards.com/2017-winners/
