Masthaven has introduced a new buy-to-let mortgage range as it looks to support landlords.
The specialist bank’s new offering will initially be available exclusively for brokers through the Buy to Let Club.
The products can be used for both purchases and remortgages with two- and five-year fixed rate options at 70-75% LTV, as well as a two-year variable option also at 70-75% LTV.
Rates start from 3.44% with a maximum portfolio limit of up to eight properties and a maximum of £2m indebted with Masthaven.
Masthaven’s BTL product features include:
- single price for limited company, individual and houses in multiple occupation (HMO)
- (HMO) to six bedrooms
- rental calc 125% and 140%
- trading co and SPV
- portfolio landlords up to eight properties and £2m
- interest only, capital and interest, part and part
- impaired credit history
- older borrowers and retired landlords
- no credit scoring
“We apply a commonsense approach to everything we do at Masthaven, and that includes talking to our brokers when creating new products,” said Matt Andrews, managing director of mortgages at Masthaven (pictured above).
“With the help of our key partners, we want to make sure our new buy-to-let products and the way we service them, are spot-on before rolling them out to the wider market.
“This new range brings with it some very exciting elements as we further expand our specialist lending offering, reflecting the long-term plans of Masthaven.”
Ying Tan, managing director at the Buy to Let Club, said it was delighted to have had the opportunity to assist Masthaven with the development of its new BTL range.
“Due to increased regulation and change in the market, investors and brokers alike are certainly looking for lenders who show a more flexible approach to lending and I believe Masthaven’s new proposition certainly hits the mark.
“We’re excited to offer our members exclusive access to these brand new rates that we expect will generate a lot of interest.”
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