The new proposition is available for individuals, professional landlords and limited companies.
The new offering comprises of three products:
Firstly, a Specialist Standard product with two and five-year fixed rate options up to 75% LTV starting from 3.09% (down from 3.14%) with a maximum portfolio limit of up to 8 properties and a maximum value of £2,000,000 with Masthaven. This product takes into consideration those with failed credit scoring, and allows gifted equity from family.
The second is a Specialist Property product with two and five-year fixed rate options up to 70% LTV starting from 3.63% - designed to take into account more complex properties including HMOs with up to ten bedrooms, flats up to 20 floors and retirement properties.
Lastly, a Specialist Landlord / Tenant product with two and five-year fixed rate options up to 70% LTV starting from 3.89% catering for both non-traditional tenants and landlords - Airbnb/holiday lets are allowed and applicants will be able to remortgage with less than six months’ ownership.
The new range reflects both broker and customer feedback and demand following Masthaven’s launch into buy to let last year.
Matt Andrews, Managing Director of Mortgages, Masthaven, says:
"The rental sector has undergone some big changes over the last few years and some landlords and tenants have felt the strain. In a bid to support the market, we wanted to create a product range that offers brokers access to products that meet market needs.
“We want to offer products that suit UK borrowers. As mortgage requirements change, the industry must offer affordable and flexible options that keep up with modern life.
“We listened carefully to our brokers and believe our new range will support their clients’ needs.”
