Masthaven Bank has completed its largest ever second charge loan.
The loan – introduced by Y3S Loans – totalled over £700,000.
The client needed a fast turnaround on refinancing their existing loan to secure a holiday home in France, with additional borrowing.
It was secured against an LTV of 65% and went from case to offer in two and a half days.
Barney Drake, managing director at Y3S Loans, said: “This application is a prime example of how the use of a specialist mortgage broker such as Y3S, packaging for an outstanding lender such as Masthaven, results in a great customer outcome.
“Our high-net-worth customer was delighted they were able to purchase a property abroad at the lowest rate in the market, with no early redemption charges – thanks to Masthaven for the great teamwork.”
Masthaven had previously completed one of its largest second charge loans within a month of the record-sized loan.
This loan was introduced by The Loan Partnership and was secured against a 65% LTV.
The offer was completed in six days and totalled nearly £600,000.
Dan Miller, underwriting manager at Masthaven, said: “When presented with large cases such as these, we always consider each customer’s needs and look for ways to say ‘yes’ – in these cases, it was a super-speedy yes.”
Andy Pelley, director at The Loan Partnership, added: “We were really pleased with the outcome we were able to achieve for our customer.
“It’s really satisfying to look and back and reflect how strong teamwork from Masthaven, The Loan Partnership and the customers themselves resulted in a timely and positive result.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
FP Show partners with Mortgage Sleep Out
The Finance Professional Show (FP Show) is lending its support to Mortgage Sleep Out, with the event hosting a number of initiatives to raise awareness and sponsorship for the charity fundraiser...
Gatehouse Bank strengthens specialist finance team
Gatehouse Bank has hired Zeenat Shaffi (pictured above) as a business development manager for its growing specialist finance team...
Close Brothers director to retire
Close Brothers Group PLC has announced that Elizabeth Lee, group head of legal and regulatory affairs, will retire from her executive director position at the end of the 2019 financial year...
Kent Reliance appoints two new senior BDMs
Kent Reliance – part of the OneSavings Bank Group – has appointed two new senior BDMs as it expands its nationwide offering...
Coutts partners with Mortgage Brain to offer products to intermediaries
Private bank Coutts has partnered with Mortgage Brain to make its products available – via the latter’s platforms – to UK intermediaries...
Charter Savings Bank launches two new accounts
Charter Savings Bank has introduced two new accounts: a 95-day notice account and a three-year fixed rate cash Isa...
FP Show reveals its largest and most diverse conference programme
The Finance Professional Show has confirmed its largest conference programme to date, hosting a selection of varied sessions throughout the event next month...
47% of SMEs prepared to move away from traditional banks
Almost half of SMEs in the UK (47%) would move to a challenger/digital bank or non-banking brand if they decided to switch, according to the latest research by Unisys Corporation...
Monese launches business account
Monese has launched a business account in the UK which will be bundled with its personal banking account...
Metro Bank provides £14m facility to support London office acquisition
Metro Bank has provided Kingsway Properties London with a £14m investment facility to support the acquisition of a five-storey office building in central London...
Tandem introduces new credit card blocking feature
Tandem has created a new card-blocking feature for its banking app which allows customers to react instantly to a misplaced card...