Masthaven Secured Loans (MSL) has launched a new product aimed at helping customers gain access to more flexible funding for buy-to-let property.
Launched to complement its existing buy-to-let facility for unencumbered property, the new product is designed for customers who, due to difficulty meeting normal buy-to-let criteria, are usually shut out of do not normally have access to the buy-to-let market.
Rates start from 9.85%, with a loan to value up to 70%.
Paul Brett (pictured), director of sales at MSL, said brokers are one of the best sources for new product ideas, and those with clients who have been turned away for buy-to-let funding now have a new angle to explore.
He added: “As a lender we encourage brokers to talk about their ideas and requirements because they are at the coalface every day talking to clients.
“Developing products in isolation and forcing brokers to shoehorn clients into those products, is not the Masthaven way. Our new purchase buy-to-let offering is a perfect example of collaboration between us and our intermediary partners to bring something a little different to a rapidly growing market.”
