LendInvest extends buy-to-let product distribution

Published on

LendInvest has joined Legal & General Mortgage Club’s lender panel to extend distribution of its buy-to-let product to more brokers.

The club’s member firms will now be able to register with LendInvest and access its full range of buy-to-let and HMO mortgage products.

Legal & General Mortgage Club is involved in around 30% of the intermediary mortgage market.

LendInvest’s two-year fixed rates currently start from 2.89%, and five-year fixed rates from 3.19%. ICR assessment rate is 5% across all products, with the exception of the five-year fixed interest product which remains at 3.6%.

In January, LendInvest increased the maximum loan size for both large HMOs and MUFBs to £3,000,000, and introduced a large loan range for standard properties and small HMOs, with products available for up to £2m at a maximum of 70% LTV.

This partnership supports the lender’s ambition to ramp up the distribution of its buy-to-let product on a national level.

Ian Boden (pictured), sales director at LendInvest, said: “We are very excited to be announcing this partnership with one of the largest, and longest-operating mortgage clubs in the market. Experience is crucial in our industry, and it’s something Legal & General aren’t short of.

“After a great year for the product, the team are now all systems go in getting more, good quality deals through the door. Working with a mortgage club with Legal & General’s expertise is a fantastic way to kick off our distribution plans for the year.”

Danny Belton, head of lender relationships for L&G Mortgage Club, added: “Although LendInvest are a relative newcomer to the buy-to-let market, their products and criteria offer another great option for many landlords. I am delighted to add LendInvest to the Legal & General Mortgage Club lender panel so that we can work in partnership to provide our members with access to their proposition.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...