The bridging provider said this together with additional bank funding will provide Masthaven with a considerable level of additional funds to lend, and will enable it to take advantage of its newly obtained FSA regulated status.
William Pears Group will take a direct stake in Masthaven Group with Michael Baker, finance director of Joint Ventures for William Pears Group, joining the board of Masthaven as a non-executive director.
Andrew Bloom, managing director of Masthaven said: “For the last 18 months Masthaven has been looking for a strategic partner to assist in our growth plans. Our decision to partner with the William Pears Group is not just because of their deep pockets but also their extensive knowledge of the property market”.
Mark Pears, of William Pears Group added: “Masthaven has been one of the few bridging finance lenders to successfully weather the recent economic storms, Andrew and his team has impressed me with their professionalism and commitment to grow the business.”
