"These enhancements not only aim to simplify the customer journey but also deliver a more competitive pricing structure for complex refurbishments"
- Jim Baker - Masthaven Finance
Masthaven Finance has announced that it has introduced a series of changes to its unregulated bridging products, aiming to streamline its offerings and reduce costs across residential refurbishment, semi-commercial, and commercial loans.
The lender has restructured its residential refurbishment product range, reducing the number of offerings from five to three. This adjustment is designed to create a more straightforward process for borrowers and make deal placement more efficient for intermediaries. A key part of the overhaul is the inclusion of heavy renovation projects within the standard residential product, with up to 100% of the cost of works funded in arrears.
“By simplifying our product suite and sharpening our pricing, we’re giving brokers what they need – clarity, speed, and confidence,” said Jim Baker (pictured), sales director – bridging & development at Masthaven Finance. “These enhancements not only aim to simplify the customer journey but also deliver a more competitive pricing structure for complex refurbishments. These changes reflect our ongoing commitment to being a trusted partner in the specialist finance space. We’re listening to what brokers need, and we’re evolving to meet those needs.”
The company has also lowered rates across its refurbishment loans. For 1st charge residential refurbishment, rates now start at 0.89% up to 70% loan-to-value (LTV). For 2nd charge loans, the rate has dropped to 1.04% up to 60% LTV.
Adjustments have also been made to semi-commercial and commercial products. Semi-commercial bridging loans are now available at 0.94% up to 60% LTV and 0.99% up to 65% LTV. Commercial rates have been reduced to 0.99% up to 60% LTV and 1.04% up to 65% LTV.
“Small development and renovation schemes are often underserved by traditional lenders but with these changes, we’re aiming to empower experienced developers and property professionals to take on more ambitious projects knowing they’ve got the right support behind them,” explained Emmanuel Johnson, underwriting manager – development finance at Masthaven Finance.
The product update follows Masthaven Finance’s recent move to join the National Association of Commercial Finance Brokers (NACFB), signalling its continued focus on growing its presence in the commercial and development lending sector.
