Within its bridging range, regulated first charge residential bridging rates have been cut to 0.84% up to 70% loan to value (LTV) and 0.89% up to 75% LTV.
For regulated first charge heavy renovation cases, pricing has been lowered to 0.99% up to 60% LTV and 1.04% up to 70% LTV.
Within its non-regulated first charge range, bridging rates have also been reduced, with pricing beginning from 0.79% up to 60% LTV, 0.84% up to 70% LTV and 0.89% up to 75% LTV.
On the second charge non-regulated bridging side, pricing starts from 0.89%.
Masthaven Finance is also widening the use of AVMs so first charge loans can be considered up to £350,000 at a maximum of 55% LTV and up to £250,000 at a maximum of 65% LTV.
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The lender has also added an AVM band to allow AVMs on loans up to £150,000 at a maximum of 60% LTV.
For second charge loans, AVMS can be utilised up to £250,000 at a maximum of 50% LTV and up to £150,000 at a maximum of 60% LTV.
The firm has also added dual representation to “simplify the legal process and help suitable cases progress more efficiently”.
Masthaven Finance added that it would monitor outcomes closely and seek feedback from brokers and borrowers to improve the process further and ensure it “delivers consistent benefits”.
Jim Baker, sales director for bridging and development at Masthaven Finance, said: “By sharpening our pricing, expanding the use of AVMs and rolling out dual representation, we’re giving brokers greater certainty, faster outcomes and a smoother experience overall for their clients.
“This proposition is built around the cases we see on desks every day, and we’ll continue listening to broker feedback and refining it as the market evolves.”
In October, the firm obtained an initial £100m funding line from Macquarie Group through its commodities and global markets business.
