- Masthaven’s bridging range now includes a separate refurbishment product range and a new Mini Bridge option
- Changes to the product range aim to provide brokers and customers with more choice and greater clarity of the options available
has today announced changes to its current bridging range to provide more options for brokers and customers with the introduction of new refurbishment and Mini Bridge ranges to its existing suite of bridging products.
The separate refurbishment range has been introduced to meet high demand from the market and includes a heavy refurbishment option. The new range aims to help provide greater clarity for brokers and customers along with tailored pricing for different types of refurbishment projects.
The bank has also introduced a Mini Bridge product for loans between £200,000 and £300,000, designed for smaller straightforward loans where time is of the essence.
The bank continues to offer its standard Bridging products for loans over £300,000, as well as its Specialist Bridging products, which are specifically designed for more complex cases or customers who have recent adverse credit history.
Masthaven made a number of product changes early on in the Covid-19 pandemic to respond to fluctuations in the market and protect customers and brokers, many of which will continue into 2021. These include an AVM capability for bridging loans up to a maximum £1 million at a maximum LTV of 60%.
Alan Margolis, Director of Bridging at Masthaven, said:
“During the pandemic, bridging has been a vital tool for homebuyers looking to complete purchases quickly, but responsibly. As we navigate a third national lockdown and enduring economic uncertainty, adapting our product offering is vital.
“At Masthaven, we want to respond positively to changes in the market and rising demand. These latest updates to our bridging range will allow us to be competitive in the market and offer great service as we work collaboratively during this challenging time. Brokers can access our new product range through our Broker Portal where they can get quick quotes, instant Decision in Principles for straightforward cases and credit backed decisions for more complex cases and apply online.
"Through our updated range and portal, we aim to make it is as simple and efficient as possible for brokers and borrowers to access the short-term lending solutions that are right for their individual needs.”
More information about Masthaven’s bridging product range can be found here
0203 404 7700
About Masthaven Bank
Masthaven launched as a retail bank in 2016 and offers award-winning saving and lending products. Prior to that, Masthaven Finance has provided a flexible and personalised approach to bridging loans and secured lending since 2004.
Today, the bank’s knowledgeable and experienced specialists are committed to providing customers with flexible and fixed term savings accounts, bridging loans, development finance and mortgages.
Masthaven was recognised as 2020’s Most Innovative Digital Retail Bank UK by CFI, the third consecutive win for the category. Masthaven won Best Second Charge Mortgage Lender in the Your Mortgage Awards 2018/19 and Customer Service of the Year in the Money Age Mortgage Awards in 2019. It was also awarded Best Specialist Lender in the Moneynet Personal Finance Awards 2019.
Masthaven Finance has featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81) and the bank ranked 240 in Financial Times’ FT1000 list published in 2017. In 2020 it featured in Forbes as one of the top 10 fastest growing companies in the UK.
The bank is regulated by the Financial Conduct Authority and Prudential Regulation Authority.