Masthaven Finance

No. Masthaven held a banking licence from 2016 to 2024, during which time it operated as Masthaven Bank and offered savings accounts alongside its lending products. When founder Andrew Bloom re-acquired the business in October 2024, a fundamental part of the transaction was reverting Masthaven to a non-bank lender. Since February 2025, the combined entity has traded as Masthaven Finance, not Masthaven Bank. Masthaven Finance Ltd is authorised and regulated by the Financial Conduct Authority under FRN 300606, but is not authorised by the Prudential Regulation Authority and does not accept deposits.

For borrowers, the practical difference is limited. The bridging and development finance products continue to operate as they did during the bank period, with the same underwriting approach and many of the same staff. The change in regulatory status affects the institutional framework behind the business rather than the borrower experience. Masthaven Finance is funded through institutional senior debt lines rather than retail deposits, and has plans for a first public securitisation targeted for 2027 to further diversify its funding base.

A regulated bridge is required where the borrower lives in or intends to live in the property being used as security. Common regulated scenarios include chain breaks, auction purchases on a primary residence, and short-term capital raises against an owner-occupied home. Regulated bridging carries FCA consumer protections, including the right to refer a complaint to the Financial Ombudsman Service. Masthaven's regulated first charge residential rates start from 0.84% per month up to 70% LTV, or from 0.79% per month on larger clean-credit facilities exceeding £750,000.

Unregulated bridging is for investment and business purposes where the borrower does not occupy the security. Buy-to-let purchases, commercial property acquisitions, refurbishment of investment properties, and capital raises on non-occupied assets all fall into the unregulated category. Unregulated first charge rates start from 0.79% per month at up to 60% LTV. Masthaven offers both types through the same underwriting team, which simplifies the broker experience and means a single lender relationship covers both homeowner and investor scenarios.

The most recent published rates were updated in January 2026. Unregulated first charge residential bridging starts from 0.79% per month at up to 60% LTV, 0.84% up to 70% LTV, and 0.89% up to 75% LTV. A lower band at 0.79% applies from 50% LTV downward. Regulated first charge residential runs at 0.84% up to 70% LTV and 0.89% up to 75% LTV. Regulated heavy renovation is priced at 0.99% up to 60% LTV and 1.04% up to 70% LTV. Non-regulated second charge starts from 0.89%. Loans below £100,000 are subject to a minimum rate of 0.99% per month on both regulated and unregulated products.

Semi-commercial bridging is priced at 0.94% up to 60% LTV and 0.99% up to 65% LTV. Commercial bridging runs at 0.99% up to 60% LTV and 1.04% up to 65% LTV. All rates are subject to change and should be confirmed with a broker at the time of application. The guide to loan fees explains how the total cost of a bridging loan is calculated from the combination of the monthly rate, term, arrangement fee, and associated charges.

Yes. Masthaven underwrites every case manually, meaning there is no automated credit scoring that filters out borrowers based on a rigid threshold. Missed payments, CCJs, and other adverse credit markers are assessed in context alongside the quality of the security, the exit strategy, and the borrower's overall financial position. There is no published interest rate loading applied specifically for adverse credit; the rate depends on the LTV band and product type. This approach benefits borrowers whose credit file includes historical blips that do not reflect their current circumstances or the strength of the deal being proposed.

There are still limits. Masthaven's criteria note that missed payments in the last 12 months and the overall pattern of adverse credit will form part of the assessment. Severe or very recent adverse credit combined with high LTV and a weak exit strategy is unlikely to be approved regardless of the manual approach. A broker familiar with Masthaven's underwriting appetite can give an accurate pre-application assessment for cases with complex or impaired credit. The guide to secured loans for bad credit explains how specialist lenders approach this area.

In June 2025, Masthaven streamlined its residential refurbishment offering from five products to three and, critically, folded heavy renovation projects into the standard residential product. Previously, borrowers and brokers had to identify the correct product line depending on the scope of works. Now, a single residential refurbishment product covers everything from cosmetic decoration through to full structural conversion and change-of-use projects. The rate on first charge residential refurbishment is 0.89% per month up to 70% LTV. 100% of the cost of works is funded in arrears across the range.

This simplification matters most for brokers placing refurbishment cases. The product selection process is faster, there is no risk of placing a case on the wrong product line, and the rate applies regardless of whether the project is light or heavy in scope. For borrowers, the key practical benefit is that 100% of works costs are funded in arrears, meaning the capital to pay contractors comes from the loan rather than from personal cash flow during the build. This reduces the working capital the borrower needs to have available beyond their equity contribution. For second charge refurbishment, the rate is 1.04% per month up to 60% LTV.

Yes. Masthaven offers both regulated and unregulated second charge bridging. Non-regulated second charge rates start from 0.89% per month. Second charge refurbishment is priced at 1.04% per month up to 60% LTV. AVMs are available on qualifying second charge cases: up to £250,000 at a maximum of 50% LTV and up to £150,000 at a maximum of 60% LTV. In most cases, Masthaven will require a Building Society Questionnaire completed by the first charge lender and written consent from that lender. A Deed of Postponement may also be required depending on the first charge lender's requirements.

Second charge bridging is relevant for borrowers who want to raise capital without disturbing an existing first charge mortgage. This is particularly useful where the first charge carries a favourable interest rate that would be lost on a remortgage, or where an early repayment charge would make remortgaging uneconomic during the current fixed term. The guide to second charge mortgages explains how first and second charges work together in practice and when a second charge bridge is the most appropriate route.

Yes. Semi-commercial bridging is available at 0.94% per month up to 60% LTV and 0.99% up to 65% LTV. Commercial bridging is priced at 0.99% per month up to 60% LTV and 1.04% up to 65% LTV. Masthaven also now considers renovation and light development works on semi-commercial property, extending the refurbishment capability beyond purely residential security for the first time. All commercial and semi-commercial lending is unregulated and for investment or business purposes only.

The extension into semi-commercial renovation is a notable recent addition. It means a borrower refurbishing a mixed-use property, such as a flat above a shop or a building with a commercial ground floor and residential upper floors, can now access Masthaven's refurbishment lending structure on the semi-commercial product rather than needing a separate lender for the mixed-use element. Commercial and semi-commercial cases are manually underwritten in the same way as residential, with the property, exit strategy, and borrower assessed on individual merits rather than through a rigid template.

Masthaven offers four development finance products alongside its bridging range. Light development, covering large-scale extensions and commercial-to-residential conversions, is priced at 1.04% per month. Professional development aimed at SME developers is available at 1.09% per month with up to 100% of build costs funded. Regulated self-build is priced at 1.14% per month. Development exit, available when works are fully complete, runs at 0.89% per month up to 70% LTGDV. There are no exit fees across any of the development finance products.

The presence of a development finance range alongside bridging makes Masthaven a single-source option for property professionals who need both short-term purchase and refurbishment finance and longer-timeline development lending. A developer buying a site on a bridge, carrying out conversion works, and then exiting via development exit can use the same lender across all three stages. Self-build borrowers who plan to occupy the completed property can use the regulated self-build product, which is a rarer offering among non-bank specialist lenders.