B&C can exclusively reveal that bridging lender Masthaven has received an extensive funding line from OneSavings Bank.
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div>B&C can exclusively reveal that bridging lender Masthaven has received an extensive funding line from OneSavings Bank.
It has been confirmed that the facility was completed just under one year ago and was valued in the regions of tens of millions of pounds.
The funding line from OneSavings Bank is dedicated to the lender's bridging offering.
While commenting on the matter, Andrew Bloom, Managing Director at Masthaven Finance, said: “I am delighted to have been working with OneSavings Bank over the past year.
"In this time we have built a strong partnership and I look forward to this relationship growing.”
Jens Bech, Commercial Director of OneSavings Bank, said: "OneSavings Bank has an excellent relationship with Masthaven.
"We are supporting a number of specialist lenders on a secured basis and we have recently hired Steve Attree as Head of Secured Finance to lead this business area."
In February 2011, Masthaven sold a significant minority stake in the company to The William Pears Group, which is the primary investment vehicle of the billionaire Pears brothers.
The transaction involved an undisclosed eight-figure investment being made into Masthaven.
The specialist lending and retail savings group, OneSavings Bank has a balance sheet of over £3 billion and acts as the parent firm to Kent Reliance, InterBay Commercial and Prestige Finance.
The group recently appointed Mike Fairey as its Non-Executive Chairman.
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