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
Masthaven Launches Enhanced Refurb Products
We wanted to share two exciting new products Mathaven has launched today, designed to help your clients maximise opportunities in today’s market.
Improved Reg & Unreg Refurbishment Finance
Masthaven has greatly improved our refurb offering on the regulated and unregulated lending options. We have moved to a fully rolled product for our unregulated refurb loans, and increased our max leverage to 70% true net (nothing deducted except any additional broker fees).
Key highlights:
• Up to 70% true net day one + 100% of refurbishment costs
• Loans from £100,000 to £1.5m
• Rates from 0.84% per month
• Structural works permitted, including extensions up to 33% additional floor area
• 2nd charge option available
• Suitable for developers, landlords and also owner-occupiers looking to improve, extend or add value to their property
Heavy Refurbishment Finance
This is ideal for change of use, property conversions and projects requiring significant works.
Key highlights:
• Up to 70% true net day one lending plus 100% of build costs
• Loans from £100,000 to £1.5m
• Rates from 0.89% per month
• Suitable for change of use, conversions, extensions over 33% and projects creating up to 4 units
• 2nd charge option available
• Available for experienced borrowers looking to add significant value through refurbishment or redevelopment.
Why Masthaven over the countless others:
• Credit-backed terms before your client completes any application forms
• 2nd charge option available – drawdown on regulated and unregulated 2nd charges
• Dedicated underwriter from initial application and throughout the drawdown process providing continuity for you and your clients.
• Highly experienced team providing accurate and fast decisions.
• Full product range so we can accommodate additional security on more assets than most other lenders in our space.