Loans  

Masthaven increases LTV on prime bridging loan

Masthaven increases LTV on prime bridging loan
 Aidan Crawley/Bloomberg

Specialist lender Masthaven has increased the loan-to-value (LTV) for its prime bridging proposition.

The LTV has increased from 70 per cent to 75 per cent on purchases up to £750,000, to reflect broker feedback and give customers greater borrowing flexibility. 

James Bloom, managing director of short term lending at Masthaven, said the LTV increase was evidence of its commitment to giving customers more flexibility around their borrowing needs.

He said: "It reflects the hard work we put in to ensuring we offer products that meet the financial and personal circumstances of our borrowers, and illustrates how we listen to the feedback from our broker partners.

"Our refreshed product range will play an important role in opening up options for borrowers who need affordable, reliable and fast interim funding for property purchases."

Masthaven's Prime Bridging loans are suitable for both owner-occupied homes and property investors and can support applicants with loans from £100,000 to £750,000.

The bank continually reviews its products and rates to ensure its market-leading offering remains competitive.

Alan Lakey, director of CIExpert and Highclere Financial Services, said: "I rarely arrange bridging but can see that this is clearly a beneficial adjustment and will enhance their usability.  

"It indicates confidence in the UK property market. There are competitors offering 80 per cent LTV so this upgrade will move them closer to the niche bridging lenders."

aamina.zafar@ft.com