Masthaven Finance cuts rates across refurbishment bridging range
Masthaven Finance has enhanced its regulated and non-regulated refurbishment bridging products, increasing LTVs, reducing pricing and adding a new 60% LTV bracket across its bridging range.
Masthaven Finance has overhauled its refurbishment bridging range with enhanced criteria, reduced pricing and increased LTV bands.
The specialist finance lender said the changes apply across its non-regulated and regulated bridging refurbishment products.
The enhancements are aimed primarily at professional developers and property investors, covering both lighter works and larger projects.
Non-regulated refurbishment and heavy refurbishment is now available up to 70% LTV net of purchase price or value, with 100% of refurbishment costs, the arrangement fee and interest for the full term of the loan added to the facility.
Rates on the non-regulated refurbishment range start from 0.84% per month.
Masthaven has also applied the same enhancements to its regulated refurbishment range, supporting borrowers carrying out works on a property that is, or will become, their own home.
Regulated bridging borrowers can now access rates from 0.89% per month, up to 70% LTV of purchase price or value, with 100% of refurbishment costs, arrangement fee and interest added to the facility.
The refresh also includes reduced pricing across Masthaven’s residential and specialist finance ranges, alongside the introduction of a new 60% LTV bracket across all bridging products.
Borrowers can now access first charge loans from 0.79% per month at 60% LTV, while larger residential loans over £500,000 have a new rate of 0.74% per month.
Jim Baker, sales director for bridging and development at Masthaven Finance, said: “We have enhanced our refurbishment range to give brokers a genuinely competitive proposition to take to their clients.
“We have extended the same changes to our regulated range, so it’s not just professional landlords who benefit. Brokers can now bring a competitive refurb option to homeowners – a group that has long been underserved.”
The enhanced products and revised pricing are available to brokers with immediate effect.
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