Masthaven has launched a second charge mortgage range through Legal & General Mortgage Club.
The range with L&G will start from 3.74 per cent, up to 75 per cent LTV.
Loans of between £10,000 and £750,000 will be available.
Masthaven assesses borrowers based on their real-life circumstances, rather than by credit scoring. CCJs or defaults under £300 or older than 36 months will not factor as a unit on the product and there is also no age limit on the application.
Masthaven managing director Matt Andrews (pictured) says: “Second charge mortgages have changed significantly – but whilst they are cheaper and more flexible than ever before, so many borrowers continue to find their personal circumstances can get in the way of their real-life needs.
Whether it’s pulling together a deposit for their first buy-to-let investment, funding home improvements or even just consolidating debt, we believe borrowers need a lender that really looks at their individual circumstances and does what it can to say ‘yes’.
“Brokers will be well aware of the difficulties many of their clients face when securing funding. At Masthaven, we believe this new competitive range will provide our intermediary partners with a great new option for their clients who want a bank that takes a common sense approach their individual situations.”