The new offering will be available for both purchases and remortgages with two and five-year fixed rate options at 70%-75% LTV, as well as a two-year variable option also with 70%-75% LTV. These start from 3.44% with a maximum portfolio limit of up to 8 properties and a maximum of £2,000,000 indebted with Masthaven. Other product features include no dual pricing for ltd companies, individuals or houses of multiple occupancy (HMO).
Masthaven consulted with key partners, including Buy to Let Club, when creating this range to ensure it would meet the needs of advisers and consumers alike. Recognised experts in the market, Buy to Let Club is one of the largest clubs in the industry and prides itself on its in-depth knowledge of the sector.
Known for its flexible lending solutions, Masthaven brings together some of the most experienced individuals in the mortgage market as it continues to provide lending for the modern world through understanding that people need flexible finances.
Matt Andrews, Managing Director of Mortgages, Masthaven, says:
"We apply a common-sense approach to everything we do at Masthaven, and that includes talking to our brokers when creating new products.
With the help of our key partners we want to make sure our new Buy to Let products and the way we service them, are spot-on before rolling them out to the wider market. This new range brings with it some very exciting elements as we further expand our specialist lending offering, reflecting the long-term plans of Masthaven.”
Ying Tan, Managing Director, Buy to Let Club, comments:
“We are delighted to have had the opportunity to assist Masthaven with the development of their new Buy to Let range. Due to increased regulation and change in the market, investors and brokers alike are certainly looking for lenders who show a more flexible approach to lending and I believe Masthaven’s new proposition certainly hits the mark. We’re excited to offer our members exclusive access to these brand new rates that we expect will generate a lot of interest.”
-ENDS- Other key product features:
- Single price for ltd company, individual and houses of multiple occupancy (HMO)
- (HMO) to 6 bedrooms
- Rental calc 125% and 140%
- Trading Co and SPV
- Portfolio landlords up to 8 properties & £2m
- Interest only, capital & interest, part and part
- Impaired credit history
- Older borrowers and retired landlords
- No credit scoring
About Masthaven Bank Ltd
Masthaven launched as a retail bank in 2016. It 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. The bank is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register no. 719354). Masthaven was named ‘Best Bridging Lender’ in the Coreco Awards (2017); ‘Most Innovative Savings Provider’ in the Moneynet Personal Finance Awards (2017 and 2018); and ‘Best Specialist Lender’ in the Moneynet Personal Finance Awards (2018). Masthaven Finance featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81). Masthaven Bank was ranked 240 in Financial Times’ FT1000 list (2017.
FOR FURTHER INFORMATION
Gaby Bryson, Rostrum
dd: (0)203 727 3757
m: 07841 920 425