Masthaven makes significant changes to secured range

The changes include major rate reductions - up to 0.70% in some cases - and loan sizes have been increased on most plans.

Buy-to-let has been revamped too, with the buy-to-let LTV now up to 70% and rates as low as 11.45%.

Stuart Aitken, Chief Operating Officer, said of the changes:

"These improvements are a further decisive step as we carefully build a substantial presence in the market. We are delighted to again include improvements that result from conversations with our broker partners. MSL will continue to roll out new and innovative products throughout this year."

Richard Keen, Head of Intermediary Development comments on Masthaven’s enhanced criteria:

“As the rental sector remains strong, brokers are recognising an increase in demand from investors looking to raise additional finance against their residential investment properties. The new BTL enhancements from Masthaven are a positive step to meet this demand. As many buy-to-let mortgages carry a substantial tie-in, landlords would therefore have to pay an excessive redemption penalty in order to raise additional funds via remortgage. Buy-to-let secured loans offer a viable solution for those landlords needing to raise finance without disturbing their current buy-to-let offering.

“Overall, these product changes will give borrowers some considerable leeway,  and we're delighted to provide our brokers with access to these substantial enhancements. “