Masthaven reveals value to its lending markets
As the UK marks six months since the country went into lockdown, Masthaven Bank has today revealed the extent of its support for its intermediary partners and customers throughout the Covid-19 crisis. Since March, the specialist lender has paid £1.4m in commission to its intermediary partners, providing vital financial support to these individuals and businesses. This represents over 2,000 customers who have had access to funding during this time, including those the bank is handling on behalf of its intermediary partners.
Over the past six months, Masthaven has also supported over 1,000 mortgage customers who found themselves in challenging financial circumstances because of Covid-19 by granting mortgage payment holidays. As a result, the bank has been rated 4.9 out of 5 on the online reviews platform Feefo for the way it has helped its customers throughout the crisis.
Masthaven has also bolstered its team by hiring 27 new colleagues across the business to ensure it can continue to provide customers with access to the financing they need. In April, the business launched its limited-edition new fees-free remortgage range in response to continued demand for remortgages during the coronavirus outbreak.
Jon Hall, chief commercial officer and deputy CEO of Masthaven Bank said:
“We’re proud to have remained open for business during the Covid-19 crisis, with our teams being fully available to intermediaries and customers and our product offering being largely unaffected. Throughout lockdown, Masthaven has remained dedicated to working with intermediaries to ensure customers have access to tailored solutions that meet their needs. There is no doubt that it has been a challenging time, but by adopting a flexible approach and adapting our processes we have been able to respond to the crisis in a positive way. As a result, we have been able to support our partners and customers during a time of uncertainty and anxiety.”