Masthaven cuts bridging rates and broadens AVM use

Masthaven Finance has updated its bridging proposition with rate cuts across key products, wider use of automated valuations and the introduction of dual representation.

The specialist lender said the changes are designed to improve certainty and speed for brokers and borrowers, reflecting the types of cases currently coming through its desks.

Regulated first-charge residential bridging rates have been reduced to 0.84% up to 70% loan-to-value and 0.89% up to 75% loan-to-value.

For regulated first-charge heavy renovation cases, pricing now starts at 0.99% up to 60% loan-to-value and 1.04% up to 70% loan-to-value.

Non-regulated first-charge bridging rates have also been cut, with pricing from 0.79% up to 60% loan-to-value, 0.84% up to 70% loan-to-value and 0.89% up to 75% loan-to-value. Second-charge non-regulated bridging now starts from 0.89%.

AVM EXPANSION

Alongside the pricing changes, Masthaven is expanding its use of automated valuation models to support faster decisions and improved turnaround times.

Under the updated criteria, first-charge loans may be considered for AVMs up to £350,000 at a maximum 55% loan-to-value, and up to £250,000 at a maximum 65% loan-to-value.

The lender has also introduced a new AVM band for cases where valuation confidence is lower, allowing loans up to £150,000 at a maximum 60% loan-to-value.

For second-charge lending, AVMs may be used for loans up to £250,000 at a maximum 50% loan-to-value, and up to £150,000 at a maximum 60% loan-to-value.

Masthaven has also introduced dual representation to its bridging proposition, aiming to simplify the legal process and help suitable cases progress more efficiently.

The lender said it will monitor outcomes closely and seek feedback from brokers and borrowers to refine the approach further.

Jim Baker (pictured), sales director – bridging & development, said: “By sharpening our pricing, expanding the use of AVMs and rolling out dual representation, we’re giving brokers greater certainty, faster outcomes and a smoother experience overall for their clients.

“This proposition is built around the cases we see on desks every day, and we’ll continue listening to broker feedback and refining it as the market evolves.”