The enhancements are aimed primarily at professional developers and property investors, covering both lighter works and larger projects.
Non-regulated refurbishment and heavy refurbishment options 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. Rates start from 0.84% per month.
The lender’s regulated refurbishment range is subject to the same enhancements.
Regulated bridging borrowers can now access rates from 0.89% per month, up to 70% LTV of the purchase price/value.
Meanwhile, rate cuts have also been made to Masthaven Finance’s residential and specialist finance ranges, alongside the introduction of a 60% LTV bracket across all bridging products.
Are your clients ready for the first Making Tax Digital reporting deadline?
Sponsored by BM Solutions
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, sales director for bridging and development at Masthaven Finance, said: “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 under-served.”
