Masthaven Finance has announced a major update to its refurbishment, semi-commercial and commercial bridging product ranges, with significant rate reductions and a streamlined product structure designed to simplify the broker experience.
The specialist lender has reduced its residential refurbishment range from five products to three, making it easier for intermediaries to match borrowers with the right solution. One of the most significant changes is that heavy renovation projects are now included within the standard residential product, with up to 100% of cost of works funded in arrears.
Alongside the structural changes, rates across the range have been cut. On residential refurbishment, 1st charge loan rates have been reduced to 0.89% up to 70% loan-to-value, while 2nd charge refurbishment loans have seen a rate drop to 1.04% up to 60% LTV.
Semi-commercial bridging products are now available at 0.94% up to 60% LTV and 0.99% up to 65% LTV. For commercial bridging loans, rates have been lowered to 0.99% up to 60% LTV and 1.04% up to 65% LTV.
Jim Baker (pictured), sales director – bridging & development at Masthaven Finance, said: “These enhancements not only aim to simplify the customer journey but also deliver a more competitive pricing structure for complex refurbishments. By simplifying our product suite and sharpening our pricing, we’re giving brokers what they need – clarity, speed, and confidence.
“These changes reflect our ongoing commitment to being a trusted partner in the specialist finance space. We’re listening to what brokers need and we’re evolving to meet those needs.”
Emmanuel Johnson, underwriting manager – development finance at Masthaven Finance, added: “Small development and renovation schemes are often underserved by traditional lenders but with these changes, we’re aiming to empower experienced developers and property professionals to take on more ambitious projects knowing they’ve got the right support behind them.”
The updates follow Masthaven’s recent decision to join the National Association of Commercial Finance Brokers, reinforcing its strategic focus on commercial and development lending.
