Masthaven reduces loan rates across product range

Masthaven Secured LoansMasthaven has announced today that it has implemented a series of rate reductions across its range of secured loans, first charge residential and Buy-to-Let mortgages.

The move, ahead of Masthaven’s launch as a retail bank expected late summer, marks the beginning of a more competitive pricing strategy for the organisation.

On Secured Loans Masthaven has announced:

–       Reductions of up to 0.5% on the Secured Loans variable rate, with the new headline secured loan rate now 6.75% and the Lender fee still remaining at 2%

–       75% LTV MSL Prime rate reduction by 0.5% to 7.95%

–       MSL BTL Secured Loans reduced by 0.4%, with a headline rate of 7.75% and 3 year fixed rates starting at 8.5%

–       All other MSL Secured Loans rates have been reduced by 0.4%.

 On first charge products Masthaven has announced:

–       All residential first charge products have also been heavily reduced, with MSL Prime rates to start at 6.60%.

–       First charge BTL range reduced by 0.4% across the range, leading with 7.75%.

–       All other first charge rates have been reduced by 0.3%, maintaining the standard Lender fee of 2%.

Jon Sturgess, Head of Sales, Secured Lending at MSL, said:

Masthaven is very much open for business through the summer months  and keen to keep supporting brokers to meet their clients needs.  I’m delighted to announce these rate reductions – they mark the start of a stronger pricing strategy going forward.”

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