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Masthaven revamps BTL range and cuts rates

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  • 20/05/2019
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Masthaven revamps BTL range and cuts rates
Masthaven has boosted its buy-to-let range by launching three products and cutting its rates.

 

The proposition includes flexible criteria points, rates for non-traditional tenants and landlords as well as complex properties.

It is available for individuals, professional landlords and limited companies.

The offering comprises a specialist standard product with two and five-year fixed rate options up to 75% loan to value (LTV). They start from 3.09% down from 3.14% with a maximum portfolio limit of up to eight properties and a maximum value of £2m.

The new range reflects both broker and customer feedback and demand following Masthaven’s launch into BTL last year, said the lender.

Matt Andrews, managing director of mortgages at Masthaven (pictured), said that the rental sector has undergone some big changes over the last few years and some landlords and tenants have felt the strain.

He added: “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.”

Doug Hall, director of 3mc, said: “Buy to let has been in need of innovation for some time, so we’re extremely pleased to see this distinct new offering from Masthaven.

“Masthaven has made BTL fit for the modern landlord and tenant with a set of three products that are easy for brokers and borrowers to understand, feature lots of relevant criteria points and bring buy to let into the modern world. We look forward to offering this product to our clients.”

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