Masthaven has entered the residential first charge mortgage market offering customers with more complex application requirements a viable alternative to the high-street lenders.
Their new product range includes a range of fixed, discount and lifetime tracker products with fees starting from 2.94% and LTV ranging from 70% – 80%.
Matt Andrews, Managing Director of Mortgages at Masthaven, said: “Society has changed and it is time the mortgage industry caught up. We believe that a modern mortgage market builds products and services based on customer needs, rather than applying a one-size-fits-all approach to lending. People are working and living longer, starting out adult life in greater debt due to tuition fees and a job is no longer for life, with a huge swathe of the population either self-employed or not working the traditional 9-5 contract job. Many won’t fit the conventional box ticking exercises that the mortgage market currently requires, yet they can comfortably afford the mortgage repayments they wish to commit to. We want to work with brokers to help change this situation and this first range of products is just the start of driving that change.
“In our first phase of mortgage products we are bringing to market a flexible and inclusive product on competitive rates via a select panel of specialist brokers. Expect, in time, to see greater distribution and product innovations to truly challenge the market. Underlying all of that will be Masthaven’s track record and commitment to service, derived from a truly personalised approach which means that we hunt for ways to say yes rather than letting a computer say no.”
Masthaven is working with a select panel of specialist brokers at launch and intends to extend distribution to the wider UK market before the end of the year.