Masthaven increases minimum bridging loan to maintain service

The lender will be temporarily increasing its minimum loan across all bridging products from £200,000 to £300,000.

Decisions in principle (DIPs) for loans between £200,000 and £299,999 will need to be approved by 5.30pm today and converted with fees paid by 5.30pm on 8 September.

Mortgage Solutions understands that the lender has made the move to protect service levels as it is incredibly busy.

In a further message posted on its website, Masthaven said: “We have seen demand for our products increase significantly and, at the moment, no doubt like you, we’re very busy – this means that we’re taking a little longer to deal with things than usual.

“To help us help you it would be of great assistance if you could fully package your cases when you submit them to us.

“This will help with a much more efficient underwrite of the application when it lands on an underwriter’s desk.”

Mortgage Solutions has contacted Masthaven for comment.