Masthaven launches new BTL products and cuts rates

Masthaven has launched a range of new buy-to-let products, as well as cut rates on select offerings.

Notable new products include a 70 per cent LTV two-year fix at 3.63 per cent. Complex properties including HMOs with up to ten bedrooms, flats up to 20 floors and retirement properties are considered for this product, according to the lender.

In addition, a 70 per cent LTV two-year fix at 3.89 per cent has been launched. This product caters for Airbnb and holiday lets, as well as the ability to remortgage with less than six months’ ownership.

Reductions include the 75 per cent LTV two-year fix at 3.14 per cent having been cut to 3.09 per cent. This offering considers borrowers with a failed credit score and allows gifted equity from family.

Masthaven managing director of mortgages Matt Andrews comments: “The rental sector has undergone some big changes over the last few years and some landlords and tenants have felt the strain.

“In a bid to support the market, we wanted to create a product range that offers brokers access to products that meet market needs.

“We want to offer products that suit UK borrowers. As mortgage requirements change, the industry must offer affordable and flexible options that keep up with modern life.”

3mc director Doug Hall says: “Masthaven’s revamped BTL product suite will provide a much-needed boost to the intermediary market.

“BTL has been in need of innovation for some time, so we are extremely pleased to see this distinct new offering from Masthaven.”

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