LendInvest has reduced rates across its 5-year fixed term residential mortgage range and launched a new cashback offer.

The London-listed alternative lender announced a 10 basis point cut across all of its 5-year term residential mortgage products, with rates now starting from 5.19%.

It is also offering £400 cashback on completion across the entire residential product suite.

LendInvest, which has recently overhauled its credit criteria to better account for adverse credit, said the changes were designed to support both homebuyers and remortgagors struggling to meet traditional lending requirements.

Paula Mercer (pictured), director of sales at LendInvest, said: “At LendInvest, we can appreciate all of the added costs when buying or remortgaging a home. As the cost of everyday living seems to be always rising, we’re thrilled to offer up to £400 cashback.

“This cashback incentive, along with a 10bps reduction on all of our 5-year fixed term residential mortgages will empower and enable brokers to support their clients who may no longer fit the traditional mould of high street lending.”