Masthaven revamps bridging refurbishment range with higher LTVs and lower rates

Masthaven Finance has overhauled its refurbishment range, introducing enhanced criteria, reduced pricing and increased LTV bands across its unregulated and regulated bridging refurbishment products.

Unregulated refurbishment and heavy refurbishment are now available up to 70% LTV net of purchase price/value, with 100% of refurbishment costs, the arrangement fee and interest for the full term of the loan added to the facility.

The same enhancements have been applied to the lender’s 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/value again with 100% of refurbishment, arrangement fee and interest added to the facility.

The refresh also brings reduced pricing across the lender’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 just 0.79% per month at 60% LTV, while larger residential loans over £500,000 benefit from a new rate of 0.74% per month.

Jim Baker, sales director of bridging and development at Masthaven Finance (pictured above), 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.”