- LTV for purchases rising from 70% to 75%
- Update follows broker feedback and is designed to increase flexibility for borrowers
Specialist lender Masthaven has increased the loan-to-value (LTV) for its Prime Bridging proposition from 70% to 75% to reflect broker feedback and give customers greater borrowing flexibility.
Brokers will benefit from the increased LTV, on purchases up to £750,000, from today as the update comes into force on the bank’s Prime Bridging range.
Masthaven’s Prime Bridging loans are suitable for both owner-occupied homes and property investors and can support applicants with loans from £100,000 to £750,000.
The bank continually reviews its products and rates to ensure its market-leading offering remains competitive.
This increase follows the launch of Masthaven’s Bridging Plus product especially designed for loans over £750,000.
James Bloom, Managing Director of Short Term Lending at Masthaven, said the LTV rise was evidence of its commitment to giving customers more flexibility around their borrowing needs.
“It reflects the hard work we put in to ensuring we offer products that meet the financial and personal circumstances of our borrowers, and illustrates how we listen to the feedback from our broker partners,” he said.
“Our refreshed product range will play an important role in opening up options for borrowers who need affordable, reliable and fast interim funding for property purchases.”