Masthaven Finance has reduced rates across its lending range, increased maximum loan-to-value limits and widened affordability criteria for self-employed borrowers.

The specialist finance lender has announced a series of changes across its first and second charge residential and buy-to-let products, including lower pricing, higher maximum LTVs and enhanced affordability assessments.

The lender said rates have been reduced across all products, with its headline rate cut by 0.35%.

Masthaven has also increased maximum LTVs on selected products and raised the LTV available on its lowest-priced products from 65% to 70%.

The changes also include a broader approach to assessing self-employed applicants, with retained profits now taken into account when calculating affordability.

Shelley Stern, director of mortgages at Masthaven Finance, said: “Following our recent platform rollout, we are delighted to bring these product developments to the market. With reduced rates and increased LTVs, we are well placed to support the market, supported by a strong service proposition.

“Further enhancements to our affordability assessment will enable us to continue to support self-employed applicants.”

The lender said the enhancements form part of its ongoing development programme following the rollout of its new lending platform.

Masthaven believes the combination of lower rates, higher LTVs and updated affordability criteria will provide greater flexibility for borrowers and intermediaries across a range of residential and buy-to-let lending scenarios.