Masthaven managing director Jon Hall believes the appointment of hugely experienced James Bloom will provide additional vital components to the bank's growth.
Mr Bloom has been handed the role of managing director for Masthaven’s short term lending division. This is a new role encompassing the bank’s bridging and development finance lending teams. His appointment comes after he was previously managing director of the development finance team.
And Mr Hall says his colleague's extensive understanding of short-term lending is a huge asset for Masthaven. He added: "With 30 years of experience in property, James’ unique set of skills and deep knowledge of short-term lending are a vital part of the bank’s growth in this sector.
"His new role reflects the significant contribution he made as MD of our development finance division since mid-2016. With James leading the lending business and Richard Deacon leading sales I’m fortunate to be working with two of the most experienced and well regarded individuals in the short term lending market.”
And Mr Bloom says he is thrilled to take up his new position and predicts "exciting times" ahead for the Masthaven team. He added: “I’m delighted to be leading Masthaven’s short-term lending business – a division that we recently enhanced significantly with a suite of new offerings.
"The new team structure is a reflection of the growth Masthaven is seeing in this sector. These are incredibly exciting times in Masthaven's evolution and business development and I’m delighted to be an instrumental part of this process. I look forward to working with the team, to continue to innovate and meet customer needs; exciting times for 2018!
In mid-September 2017 Masthaven launched its extended suite of short-term lending solutions, in response to "increased demand from brokers for simple flexible short-term lending with a quick turnaround".
The company says that the extension incorporated a light development product, and enhancements to the bank’s bridging proposition through the introduction of standard and prime bridging products, alongside development finance and commercial bridging loans.
Masthaven entered the residential mortgage market in June with a new range of products developed to meet the needs of borrowers who have more complex requirements.