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.
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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.”
