Specialist finance lender Masthaven Finance has lowered its bridging rates and made a series of product enhancements.
First charge regulated residential bridging will decrease to 0.84% up to 65% loan to value (LTV), 0.89% up to 70% LTV, and 0.99% up to 75% LTV.
For large regulated bridging loans for borrowers with clean credit and facilities exceeding £750,000, rates will be priced from 0.79% up to 60% LTV and 0.84% up to 70% LTV.
Furthermore, the minimum rate on both regulated and non-regulated loans below £100,000 has been lowered to 0.99%, down from 1.09% for regulated loans and 1.04% for non-regulated bridging loans.
The lender said it would consider renovation and light development works on semi-commercial property.
Masthaven has also lowered its development exit product, which is available where works are 100% complete, from 0.99% to 0.89%.
Jim Baker, sales director at Masthaven Finance, said: “These updates demonstrate Masthaven Finance’s commitment to giving brokers genuinely competitive products that meet the needs of today’s clients.
“We’ve sharpened our pricing to ensure we’re strong in the non-regulated space, and we’re building a clear edge in refurbishment lending – areas where speed, flexibility and fair pricing really make the difference.”
Earlier this year, Spring Finance’s chief executive Andrew Bloom completed the acquisition of Masthaven, combining the two firms, with the merged entity operating as Masthaven Finance.
The company offers personalised bridging loans, development finance, secured loans and specialist remortgages.
The firm has gone on to join the Bridging & Development Lenders Association (BDLA) and the National Association of Commercial Finance Brokers (NACFB), alongside adding two business development managers (BDMs) to its team.
