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Masthaven Finance was founded as a specialist property finance lender. Over the following decade, the business achieved substantial growth within the specialist finance market.
Masthaven Finance (Masthaven) was founded in 2005 by Andrew Bloom as a specialist property finance lender. Over the following decade, the business achieved substantial growth within the specialist finance market. In 2011, the company attracted significant investment from the William Pears Group, a high profile investment company, which facilitated its growth and expansion.

Following a two year application process, in April 2016 the company was granted a full UK banking license and became Masthaven Bank. This enabled the business to expand its offerings to include specialist property finance, mortgage lending, and digital retail savings solution. Throughout its development, Masthaven emphasised personalised financial products, allowing customers to tailor savings and mortgage solutions to their specific needs. The bank’s innovative approach and dedication to flexibility positioned it as a notable player among UK challenger banks.

In April 2019, Värde Partners, a global alternative investment firm, made a strategic £60 million equity investment in Masthaven. This investment aimed to buy out existing shareholders and to enhance Masthaven’s capacity to serve UK residential and SME markets, enabling significant growth in lending to consumers and SMEs over the subsequent years.
By April 2022, Masthaven Bank (Masthaven) had originated in excess of £1.4bn of lending, driven by diversified lending across short-term and mortgage finance and opened over 25,000 savings accounts totalling £1.6bn.

These achievements underscore Masthaven’s growth and its impact on the UK’s specialist lending and savings markets.

Throughout its development, Masthaven has emphasised personalised financial products, allowing customers to tailor savings and mortgage solutions to their specific needs. The bank’s innovative approach and dedication to flexibility positioned it as a notable player among UK challenger banks.

Masthaven announced its intention to withdraw from the UK banking market in February 2022. As part of this process the company returned its regulatory licenses and following the sale of the company’s assets to Andrew Bloom, changed its name to Genclose Limited and entered a solvent wind-down. If you were a customer prior to October 2024 and require more information, please take a look at www.genclose.com.

February 2011

Spring Finance was founded by Stuart Epstein, positioning itself as a specialist lender in the second charge mortgage market.

23 February 2011
23 November 2014

November 2014

Spring Finance achieved a significant milestone by securing its first senior bank funding line with Macquarie Bank.

July 2018

Spring Finance secured an additional senior bank funding line with NatWest to further support its growth plans.

23 July 2018
23 October 2021

October 2021

Andrew Bloom acquired the majority stake in Spring Finance, bringing a wealth of experience and vision to drive the business forward.

March 2022

Spring Finance entered the bridging and development finance market, expanding its services to include first and second charge loans, with a combination of regulated and unregulated lending products.

23 March 2022
23 September 2022

September 2022

Spring Finance secured a significant additional senior bank funding line with Hampshire Trust Bank (HTB), further strengthening its ability to support its customers and fund its growth initiatives.

June 2023

The company secured an additional senior bank funding line with Aldermore, to further enhance its portfolio and achieve its growth plans.

23 June 2023
23 November 2023

November 2023

Spring Finance launched into the first charge mortgage market, broadening its product offerings and entering a new segment to serve a wider range of customers.

July 2024

The company secured additional senior bank funding line with Shawbrook Bank, further enhancing its financial resources and capacity to fund its growing portfolio.

23 July 2024
30 September 2024

September 2024

The company expanded its mezzanine investment portfolio to a total of £40m, enabling it to offer more flexible financing solutions to meet the evolving needs of its clients.

February 2025

Spring Finance achieved a major milestone by merging with Masthaven Finance, a strategic move to expand capabilities and strengthen its position in the specialist lending market.

01 February 2025

January 2005

Masthaven Finance, founded by Andrew Bloom, established itself as a specialist in property finance, offering tailored lending solutions and building a reputation for flexibility and customer focus.

10 January 2005
23 March 2011

March 2011

In 2011, the company attracted significant investment from the William Pears Group, a high profile investment firm, which facilitated its growth and expansion.

December 2015

Masthaven Finance was ranked 81st in The Sunday Times Virgin Fast Track 100, an annual league table that recognises Britain’s 100 private companies with the fastest-growing sales over their latest three years.

23 December 2015
23 April 2016

April 2016

Masthaven Finance was granted a full UK banking license, enabling the company to expand its offerings to include specialist property finance, mortgage lending, and a digital retail savings solution.

April 2017

Masthaven was ranked 240th in the Financial Times list of the fastest growing company in Europe.

23 April 2017
23 April 2019

April 2019

Värde Partners, a global alternative investment firm, made a strategic £60m equity investment in Masthaven. This investment aimed was to buy out existing shareholders and to enhance Masthaven's capacity to serve UK residential and SME markets, enabling significant growth in lending to consumers and SMEs over the subsequent years.

April 2020

Andrew Bloom ceases being the majority shareholder, exactly one year later, he stepped down as CEO. but remains on the board as a Non-Executive Director.

23 April 2020
23 April 2021

April 2021

Masthaven Bank had originated in excess of £1.4bn of lending, driven by diversified lending across short-term and mortgage finance and opened over 25,000 savings accounts totalling £1.6bn.

February 2022

Masthaven announced its decision to withdraw from the UK banking market, marking the end of its operations as a licensed bank.

23 February 2022
23 October 2024

October 2024

Andrew Bloom reacquires Masthaven, purchasing the bridging and development finance loan book, intellectual property rights together with other tangible and intangible assets.

February 2025

Masthaven merges with Spring Finance and become a single entity.

04 February 2025
Masthaven

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Your home or any other property offered as security may be repossessed if you do not keep up repayments on a mortgage
or any other debt secured on it. Think carefully before securing other debts against your home.

Your home or any other property offered as security may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

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Masthaven Finance is a trading name of Masthaven Finance Group Ltd (14088677), Masthaven Finance Ltd (03709012), SF11 Ltd (07731478), SF13 Ltd (08273729), SF22 Ltd (14588596), SF24 Ltd (15589627), and Masthaven Finance M1 Ltd (14111987) all of which are registered in England and whose registered office is 3 Theobald Court, Theobald Street, Borehamwood WD6 4RN.
Masthaven Finance Ltd is authorised and regulated by the Financial Conduct Authority. Firm reference number 300606.
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