SimplyBiz Mortgages has added Masthaven Bank to its lender panel.
All members of SimplyBiz Mortgages will now have direct access to Masthaven’s specialist residential product range, will be able to offer the bank’s first and second charge lending products.
The specialist lender’s first charge rates start at 2.94 per cent on loans between £40,000 and £1,000,000 and are targeted at customers complex incomes, including the self-employed and contractors.
Masthaven’s second charge rates also start from 3.74 per cent, up to 75 per cent LTV and are available on loans between £10,000 and £750,000.
SimplyBiz Mortgages chief executive Martin Reynolds (pictured) says: “We have been working with Masthaven behind the scenes to ensure that we could launch both its first and second charge propositions to our Members at the same time. We now have six lenders offering second charge loans directly to our Members and we expect to see this trend continue over the next few months.”
Masthaven managing director Matt Andrews says: “By partnering with SimplyBiz Mortgages we can help more intermediaries access funding for customers who have found it difficult to find a lender who really looks at each application on a case-by-case basis.”