Masthaven Finance has updated its bridging proposition with a package of pricing reductions, wider use of automated valuation models (AVMs), and the introduction of dual representation for legal work.
The specialist finance lender has adjusted rates across its bridging range, lowering pricing on both regulated and non-regulated products to reflect current market conditions.
For regulated first-charge residential bridging, rates now start at 0.84% up to 70% LTV and rise to 0.89% up to 75% LTV. Regulated first-charge heavy renovation cases have also seen reductions, with pricing at 0.99% up to 60% LTV and 1.04% up to 70% LTV.
Non-regulated first-charge bridging has been repriced, with rates beginning at:
0.79% up to 60% LTV
0.84% up to 70% LTV
0.89% up to 75% LTV
Second-charge non-regulated bridging now starts from 0.89%.
Alongside the pricing changes, Masthaven has expanded its use of AVMs to speed up decisions and shorten turnaround times. Under the revised criteria, the lender will consider AVMs for first-charge loans up to £350,000 at a maximum 55% LTV, and up to £250,000 at a maximum 65% LTV.
Where valuation confidence is lower, Masthaven has introduced an additional AVM band. This allows loans of up to £150,000 at a maximum 60% LTV, providing brokers with more flexibility on smaller or less straightforward cases.
For second-charge lending, AVMs may now be used on loans up to £250,000 at a maximum 50% LTV, and up to £150,000 at a maximum 60% LTV.
The lender has also rolled out dual representation, allowing a single legal firm to act for both lender and borrower in suitable cases. Masthaven said it will monitor outcomes closely and gather feedback from brokers and borrowers to refine the approach and ensure it continues to support efficient case progression.
“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,” said Jim Baker, sales director for bridging and development (pictured).
“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.”
