Masthaven has today announced the launch of its new larger loans bridging products for loans over £750,000. Bridging Plus pricing places Masthaven’s new larger loans bridging products amongst the most competitive in the market.
Rates have been reduced for Prime Bridging Plus products with monthly rates starting from 0.48% up to 50% LTV, 0.58% up to 60% LTV, 0.68% up to 65% LTV and 0.78% up to 70% LTV. A flexible, custom pricing structure will be available for Standard Bridging Plus products.
By applying this level of pricing flexibility, Masthaven continues to deliver on its mission of taking a common-sense approach to lending, assessing each borrower’s requirements on a case by case basis.
The new Bridging Plus proposition also provides brokers with access to a dedicated team headed by Masthaven’s Managing Director of Short Term Lending, James Bloom. The product will initially be available via the bank’s premier partners and will offer a dedicated Underwriting Team committed to a personal, fast service.
James Bloom, pictured, Managing Director of Short Term Lending, Masthaven, said:
“It may only be a year since Masthaven Bank launched, but we have a rich heritage in the property loans market and have quickly built a reputation for being a bank that listens to the needs of customers and advisers.
“The launch of this new larger loans bridging product renews our commitment to introducing inventive solutions that address gaps in the bridging market and meet the ambitions of borrowers up and down the country. Not only does it offer our broker partners leading commission, but also gives them access to a team of specialists and either reduced or bespoke pricing solutions for their clients.”
Andre Bartlett, Director, SPF Short Term Finance, said:
“Masthaven are, again, trailblazing for the broker. It is refreshing to work with an organisation that seeks feedback from its intermediaries in order to develop and offer products to meet the needs of both brokers and customers alike.
“At SPF Short Term Finance, we specialise in larger loans making this an ideal product for us. I am confident our clients will benefit from the launch of this product and I look forward to including Bridging Plus as part of our offering.”