Masthaven becomes FSA regulated
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Masthaven Bridging Finance has become regulated by the Financial Services Authority and says it is ready to open its doors to first-charge owner-occupied lending.
The lender says gaining FSA regulation has been a lengthy process as it initially approached the regulatory body back in 2009.
But it says 12 months on and hours of hard work and perseverance later, it has been successful in gaining its authorisation.
Andrew Bloom, managing director of Masthaven Bridging Finance, says: “Due to the changing regulatory environment, this was an important strategic move for Masthaven.
“In recent years obtaining FSA regulation has become much more difficult and the success of Masthaven in achieving this is a credit to the company and its employees.”
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Readers' comments (3)
Rob Jupp | 1 Feb 2011 8:26 am
Well done Andrew, Richard and the whole Masthaven team. Innovative, forward thinking lenders like this will inherit the bleak wasteland of specialist lending going forward. Getting FSA permissions at this point speaks volumes.
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Guy Garrard | 1 Feb 2011 10:01 am
Well done to all the team at Masthaven. Good news for intermediaries.
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Grey Haired Underwriter | 1 Feb 2011 12:14 pm
It is good to see new lenders entering the market ...........but where is their funding coming from? Are they able to get the funds that make this such good news - Even £100m isn't a great deal in this market place
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