Masthaven Finance and South London based specialist intermediary, Pure Funding Solutions, have collaborated to complete a bridging deal worth £1.78 million.
The case, which they say had proved to be too complex for other lenders, was brought to Masthaven Finance. The client was buying a residential property and required a short term loan to ensure the purchase went through in time.
Masthaven’s underwriting team, led by Sarah Jackson, worked closely with Pure Funding’s Ian Wells, to find a way to ensure that as a regulated loan, the needs of the client were matched by full assessment of affordability and the putting in place of a concrete exit strategy.
Masthaven’s underwriting team met with the client and was able to reach a positive outcome that meant that the loan could be made and the deal completed.
Richard Deacon, sales and marketing director at Masthaven Finance, said: “Teamwork and experience are the key components which allowed this case to reach a successful conclusion. Pure Funding Solutions made sure we had all the tools and importantly access to the client. Then our underwriting team, which is probably one of the most experienced in the industry, was able to work with the client and broker to bring this case to fruition.”
Danny Churchill, director at Pure Funding Solutions, added: “This has been an extraordinary journey. Masthaven demonstrated why they are so highly regarded and our client is delighted with the outcome. It goes to show that only with a fully collaborative approach can this kind of complicated case have a successful ending.
“My team led by Ian Wells worked very closely with Sarah Jackson at Masthaven to reach this result and with the added cooperation of both sets of solicitors, we have a very happy client.”