In addition to these rate cuts, expanded use of AVMs and dual representation to the market have been introduced to the range.

Regulated first-charge residential bridging rates have been reduced to 0.84% up to 70% LTV and 0.89% up to 75% LTV. For regulated first-charge heavy renovation cases, pricing has been reduced to 0.99% up to 60% LTV and 1.04% up to 70% LTV.

Non-regulated first-charge bridging rates have also been reduced, with pricing starting from 0.79% up to 60% LTV, 0.84% up to 70% LTV and 0.89% up to 75% LTV. Second-charge non-regulated bridging rates start from 0.89%.

Elsewhere, Masthaven is expanding its use of AVMs to support faster decision-making and improved turnaround times.

Under the updated criteria, first-charge loans may be considered for AVMs up to £350,000 at a maximum 55% LTV and up to £250,000 at a maximum 65% LTV.

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To support cases where valuation confidence is lower, the lender has introduced a new AVM band allowing loans up to £150,000 at a maximum 60% LTV.

For second-charge loans, AVMs may be used up to £250,000 at a maximum 50% LTV and up to £150,000 at a maximum 60% LTV.

In addition, Masthaven has introduced dual representation to simplify the legal process and help suitable cases progress more efficiently.

The lender will continue to monitor outcomes closely and actively seek feedback from brokers and borrowers.

“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 of bridging and development at Masthaven Finance (pictured above).

“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.”