Masthaven Finance has introduced enhanced criteria, reduced pricing and increased LTVs across its regulated and non-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/value, with 100% of refurbishment costs, the arrangement fee and interest for the full term of the loan added to the facility. Rates start from 0.84% per month.
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 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, bridging and development sales director 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.”
