Masthaven enhances long-term lending product offering
Specialist lender Masthaven has launched a first charge residential 3-year fixed rate mortgage and reduced rates within its buy-to-let and second charge offerings.
For first-charge products there’s a 5-year fixed product starting at 3.34% up to 70% LTV and a residential 3-year fixed rate, starting at 3.14% up to 70% LTV.
There’s reduced residential rates for second charge products including a 2-year fixed deal now available from 4.24% up to 65% LTV and there is a buy-to-let range available with up to 75% LTV.
Ray Boulger, senior technical manager at John Charcol, said: “Masthaven is one of those lenders that is increasing its competitiveness and trying to get more business in certain areas and it’s always good seeing more competition from lenders.”
Matt Andrews, managing director of mortgages at Masthaven, said: “We have always applied a common-sense approach to lending at Masthaven, which means we constantly review and update our product lines to ensure our customers benefit from competitive and affordable lending options.
“We work closely with our broker partners to make sure we are listening to the needs of our customers and our latest update and launch reflects our drive to offer competitive products.
“We are delighted to be able to reduce our rates to offer a competitive 5-year fixed deal and at the same time launch a very competitive three-year fixed rate mortgage for our first-charge residential borrowers.
“We wanted to offer our customers a shorter alternative to the already popular 5-year deals.”