Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Masthaven Finance Updates Bridging Refurbishment Products

Masthaven Finance has overhauled its bridging refurbishment range, introducing enhanced criteria, reduced pricing, and increased loan-to-value (LTV) bands across both non-regulated and regulated products. The changes are aimed at professional developers and property investors, and apply to both lighter works and larger refurbishment projects.

Non-regulated refurbishment and heavy refurbishment options are now available up to 70% LTV net of purchase price or value. For these products, 100% of refurbishment costs, the arrangement fee, and interest for the full term of the loan can be added to the facility. Rates for these loans start from 0.84% per month.

The regulated refurbishment range has also been updated with the same enhancements. Regulated bridging borrowers can now access rates from 0.89% per month, up to 70% LTV of the purchase price or value.

In addition to the refurbishment range changes, Masthaven Finance has made rate cuts to its residential and specialist finance ranges. A new 60% LTV bracket has been introduced across all bridging products. Borrowers can now access first charge loans from 0.79% per month at 60% LTV, and larger residential loans over £500,000 are available at a new rate of 0.74% per month.

These updates may be relevant to UK letting agents and inventory clerks working with property investors and developers seeking flexible finance options for refurbishment projects.