Masthaven has enhanced its second-charge mortgage range in response to increasing broker demand.
Its 2-year discount product will start at 3.74% and is available for borrowers with a clean credit history.
Masthaven will also now consider applications based on the last 12 months’ credit history, is increasing the maximum loan size to £750,000 and has revised its ERC’s to 1% across all fixed rate products.
Jon Sturgess, head of sales at Masthaven, said: “Since we launched as a retail bank last year, we’ve seen increased demand via brokers for second charge borrowing for customers across a wide spectrum of credit profiles.
“This move meets their needs, as well as providing a great market leading rate for customers with clean credit histories, and the ability for them to borrow more.”
The new range will cover both residential and buy-to-let and are effective from today.