Masthaven Finance has simplified its residential refurbishment offering from five products down to three.
The firm said this would simplify the broker journey and make it easier for brokers to place deals.
Masthaven Finance will also include heavy renovation projects within the standard residential product, with up to 100% of cost of works funded in arrears.
Within residential refurbishment, first charge loan rates have been cut by up to 0.89% up to 70% loan to value (LTV), and for second charge refurbishment loans, the lender has lowered rates to 1.04% up to 60% LTV.
Semi-commercial and commercial lending has also been reduced and is now available at 0.94% up to 60% LTV and 0.99% up to 65% LTV.
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For commercial properties, rates have fallen to 0.99% up to 60% LTV and 1.04% up to 65% LTV.
Jim Baker, sales director for bridging and development at Masthaven Finance, said: “These enhancements not only aim to simplify the customer journey but also deliver a more competitive pricing structure for complex refurbishments. By simplifying our product suite and sharpening our pricing, we’re giving brokers what they need – clarity, speed, and confidence.
“These changes reflect our ongoing commitment to being a trusted partner in the specialist finance space. We’re listening to what brokers need and we’re evolving to meet those needs.”
Emmanuel Johnson, underwriting manager for development finance at Masthaven Finance, added: “Small development and renovation schemes are often under-served by traditional lenders, but with these changes, we’re aiming to empower experienced developers and property professionals to take on more ambitious projects knowing they’ve got the right support behind them.”
Masthaven Finance relaunched to the market earlier as a combined entity with Spring Finance, and has since joined the Bridging & Development Lenders Association (BDLA) and National Association of Commercial Finance Brokers (NACFB).
