LendInvest has launched a new refurbishment product, as the lender has reported an increase in applications for its short-term lending suite.

The lender says it is now seeing over 95% of new enquiries and applications being submitted directly through its bridging portal.

Meanwhile, it has launched a new refurbishment product with rates starting at 0.79%, and a maximum net LTV of 75%, with a gross LTV of up to 85%.

The new product is for residential properties, including HMOs, and is available through the LendInvest broker portal.

LendInvest is currently offering free valuations for regulated deals submitted via the portal, and is now offering AVMs.

Justin Trowse, director of bridging at LendInvest, said: “It’s fantastic to see new business increase as the portal continues to drive efficiency and speed up our time to offer. Launching new products within the portal not only streamlines the application process for our clients, but also simplifies the work that goes on behind the scenes to get deals over the line.”