Masthaven has made changes to its long-term lending product range with the launch of a first charge residential three-year fixed rate mortgage.

This is in addition to rate reductions within its buy-to-let and second charge offerings.

Changes include the following:

First charge products:

• A new buy-to-let product range with rate reductions across the board
• A buy-to-let five-year fixed product starting at 3.34% up to 70% LTV
• A new residential three-year fixed rate, starting at 3.14% up to 70% LTV

Second charge products:

• Reduced residential rates with a two-year fixed deal now available from 4.24% up to 65% LTV
• A buy-to-let range available with up to 75% LTV

Matt Andrews, managing director of mortgages at Masthaven, said: “We have always applied a common-sense approach to lending at Masthaven, which means we constantly review and update our product lines to ensure our customers benefit from competitive and affordable lending options.

“We work closely with our broker partners to make sure we are listening to the needs of our customers and our latest update and launch reflects our drive to offer competitive products.

“We are delighted to be able to reduce our rates to offer a competitive five-year fixed deal and at the same time launch a very competitive three-year fixed rate mortgage for our first-charge residential borrowers. We wanted to offer our customers a shorter alternative to the already popular five-year deals.”