Masthaven

Masthaven provides funding for urgent home improvements



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Masthaven and Complete FS have teamed up to ensure a case went straight through to offer in just two hours.

The specialist lender was approached by the packager, which had a client who wanted to consolidate some debt that had accumulated over the years, as well as raise money for urgent home improvements.

Complications arose due to the client having previously faced financial issues, but Complete FS was confident Masthaven could see the case through quickly and efficiently.

John Smith, national account manager at Masthaven, said Complete FS did a fantastic job by ensuring that all the relevant documentation was on file and providing all the correct information, so it could validate the correct income.

“As a result, the case could go straight through to valuation,” said John.

“Long gone are the days of lengthy valuation reports, which are usually the prime suspect for long delays.

“Instead, the loan in question met the criteria needed for us to accept an automated valuation model (AVM), so we were able to use our advanced AVM system to ensure the analysis was done there and then.

“As a result, the case went straight through to offer in just two hours, from receipt of case to offer.”

Masthaven provided the client with a gross loan at £57,030 based on an LTV of 56%.

The rate was at 2.94% on a two-year fixed rate with Masthaven also refunding the customer £164 of the valuation fee due to the AVM processing cost being much cheaper.

Phil Jay, director at Complete FS, said it had always been impressed with Masthaven since its launch into the first charge residential market last year.

“As a packager, we strive to offer the best specialist products and most efficient service to our brokers, so it’s fantastic when a lender can deliver this so quickly for us.

“Technology plays a big part in the mainstream market, but we’re starting to see more wins in the specialist world.”

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