Masthaven Bank have released a product update for intermediaries. To view their products at a glance click here, or here for their full product guide.
Important product changes
Please see below a refresh on our criteria and how we can support your clients:
Equitable Charges
If the customer is unable to obtain consent from the mortgage lender, we will consider an Equitable Charge on the property – on a referral basis. NO Maximum Loan amount (subject to product maximum amount) and NO Interest Rate loading.
Contractors/CIS
Minimum 3 months history and no previous experience required
E-Signatures
If speed of service is a priority, we can do a day 1 offer and completion on fully packaged cases.
Mortgage/Secured Loan Arrears
We review Missed Payments, NOT the highest arrears in the last 12 months.
AVMs
Minimum Confidence Level 4. Maximum Gross Loan – £100,000. Maximum Property Value – £1,000,000. Max 65% LTV
Minimum Confidence Level 5. Maximum Gross Loan – £100,000. Maximum Property Value – £1,000,000. Max 70% LTV
Pre-Approvals Service
All cases are manually underwritten. If you require pre-approval of a case prior to submission, we can provide this option.