A panel of premium partners can now access rates as low as 0.49% with a loan to value (LTV) of up to 40% and 0.54% with up to 50% LTV.

Master broker First 4 Bridging was among those taking advantage of the new rates and director Jonathan Caplan was quick to welcome the news.

“Since the start of the new year, it’s been clear that we’ve seen something of a rate war among bridging lenders, particularly low level LTV products on residential business for those with clean credit records,” he stated.

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“Masthaven’s decision today to drop its rate down to 0.49% … is a further indication of the highly competitive nature of bridging at present, and we, at First 4 Bridging, are very pleased to be one of a few select bridging brokers that have access to this rate.

“The market is moving particularly quickly … so we would urge advisers to make use of our expertise in this area – and the access we have to these excellent rates – in order to help them secure their client the best product available.”

The news comes just weeks after Masthaven revealed it was considering expansion into new areas of lending.