Masthaven will be launching its new specialist development finance division later this year.
James worked at Regentsmead for 29 years, where he grew the privately owned business to become a substantial player in the market, as well as creating a short-term lending department.
His role takes effect on 6th July.
Commenting on his new role, James said: “After nearly 29 years at Regentsmead it would have taken something incredibly exciting for me to leave.
“I could see this was the very special business which I would be delighted to join.
“We are going to be re-launching our development and refurbishment products – combining low cost of funding with a five-star service to create a market-leading proposition.”
Jon Hall, Managing Director of Masthaven Bank, added: “We are delighted to have attracted James, as one of the best known players in this marketplace, and to have persuaded him to join our exceptional, and growing, leadership team.”
After announcing in April that it had been granted its retail banking licence, Masthaven Bank confirmed it will offer savings accounts to customers within 10 minutes and will continue to offer specialist second charge mortgages via its intermediary partners.
It was also revealed in April that Masthaven COO Stuart Aitken was to retire in May. He has been replaced by Al Southall.
Masthaven Finance started lending in 2003 and has specialised in first and second charge residential, buy-to-let (BTL) mortgages and short-term loans, as well as regulated and BTL bridging loans, renovation and refurbishment regulated loans and regulated development (including self-build) loans.