LendInvest has revamped its buy-to-let tracker mortgage range, removing early repayment charges and increasing maximum LTVs on a number of specialist property types.

The lender has also reduced initial pay rates across its tracker range, a move it said would improve affordability and interest coverage ratio (ICR) calculations for intermediary cases.

Early repayment charges have been removed from all of the lender’s tracker products, allowing borrowers to refinance, repay their mortgage or move away from the product during the initial term without an exit penalty.

The change could also give landlords using tracker mortgages greater flexibility to switch to a fixed rate at a later date.

SPECIALIST LTVS INCREASED

LendInvest has raised the maximum LTV from 70% to 75% for holiday lets, small multi-unit freehold blocks (MUFBs) and large houses in multiple occupation (HMOs).

It has also introduced a separate tracker range for large MUFBs, aimed at portfolio landlords financing this type of property.

Darrell Walker (pictured), managing director for mortgages at LendInvest, said: “In today’s market, property investors need both affordability and agility. By eliminating early repayment charges across our tracker suite, we are removing tie-ins and giving landlords total confidence to manage their portfolios flexibly.

“Combined with reduced rates, higher LTV leverage on complex assets and our new Large MUFB tracker proposition, this overhaul reflects LendInvest’s ongoing commitment to supporting brokers and their landlord clients with competitive, real-world financing solutions.”