Masthaven Finance has enhanced its bridging refurbishment range, increasing loan-to-value limits, reducing pricing and expanding criteria across both its regulated and non-regulated products.
The specialist finance lender said the changes are designed primarily to support professional developers and property investors undertaking everything from light refurbishment projects through to more extensive works.
Under the revised proposition, non-regulated refurbishment and heavy refurbishment finance is now available at up to 70% loan-to-value, calculated against the purchase price or value.
The lender will also fund 100% of refurbishment costs, with the arrangement fee and interest for the full loan term added to the facility. Rates start from 0.84% per month.
Masthaven has introduced the same enhancements across its regulated refurbishment range, aimed at borrowers carrying out works on a property that is, or will become, their own home.
Regulated refurbishment borrowers can now access rates from 0.89% per month at up to 70% loan-to-value of the purchase price or value, with refurbishment costs, arrangement fees and interest also able to be added to the facility.
Alongside the refurbishment changes, Masthaven has reduced pricing across its wider residential and specialist finance ranges and introduced a new 60% loan-to-value tier across all bridging products.
First charge bridging loans are now available from 0.79% per month at 60% loan-to-value, while residential loans above £500,000 start from 0.74% per month.
Jim Baker, sales director – bridging & development at Masthaven Finance, says: “We have enhanced our refurbishment range to give brokers a genuinely competitive proposition to take to their clients.
“We have extended the same changes to our regulated range, so it’s not just professional landlords who benefit. Brokers can now bring a competitive refurb option to homeowners – a group that has long been underserved.”
The enhanced refurbishment products and revised pricing are available to brokers immediately.
