Complex Buy To Let
Masthaven launches buy-to-let mortgage range
The bank has launched a buy-to-let (BTL) range, initially exclusive to brokers through the Buy to Let Club.
The new offering will be available for both purchases and remortgages, with two- and five-year fixed rate deals at 70-75% loan to value (LTV).
Rates start from 3.44% with a maximum portfolio limit of up to eight properties, and a maximum loan of £2,000,000.
The offering also includes no dual pricing for limited companies, individuals, or houses in multiple occupation (HMO).
Other key product features include:
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- HMO to six bedrooms
- Rental calculations at 125% and 140%
- Trading companies and special purpose vehicles
- Interest only, capital and interest, and part in part arrangements
- Impaired credit history
- Older borrowers and retired landlords
- No credit scoring
Matt Andrews (pictured), managing director of mortgages, Masthaven, commented: “With the help of our key partners, we want to make sure our new buy-to-let products and the way we service them are spot-on before rolling them out to the wider market.”
“This new range brings with it some very exciting elements as we further expand our specialist lending offering,” Andrews continued.
Ying Tan, managing director of the Buy to Let Club, added: “Due to increased regulation and change in the market, investors and brokers alike are certainly looking for lenders who show a more flexible approach to lending and I believe Masthaven’s new proposition certainly hits the spot.”