LendInvest revamps buy-to-let offering

Published on

LendInvest has made a number of changes to its buy-to-let product range, increasing the maximum loan size for all property types and introducing a new cashback contribution towards legal fees.

The lender has increased  their definition of small HMOs from up to six to eight bedrooms, while increasing its definition of a large HMO from nine to 15 bedrooms.

The maximum loan size for both large HMOs and MUFBs has increased to £3,000,000, with the definition of a MUFB changing from up to six units, to up to 10 units.

A large loan range has also been introduced for standard properties and small HMOs, with products available for up to £2m at a maximum of 70% LTV.

LendInvest buy-to-let customers will also receive a £500 cashback contribution towards legal fees when they take out a five-year fixed buy-to-let mortgage for standard property types on products up to 75% LTV.

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%.

At the end of 2019, LendInvest expanded its buy-to-let offering into Scotland in response to increasing demand for long-term property finance in the Scottish housing market.

Ian Boden (pictured), sales director at LendInvest, said: “After a fantastic 2019 for our buy-to-let product, we are excited to be hitting the ground running this year with a broadening of our product criteria.

“Ever eager to increase the flexibility of our product, we are confident these changes will put us in good stead for a busy 2020; and look forward to further increasing our loan volumes in the coming months.”

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

Black & White Bridging creates new asset management team

Specialist short-term lender Black & White Bridging has strengthened its operations with two key...

Investec cuts fixed mortgage rates by up to 30bps for high-net-worth clients

Investec Bank has announced further reductions across its mortgage range, cutting fixed rates by...

Assetz Capital cuts development finance rates to 8.85% to support SME housebuilding

Assetz Capital has announced a further reduction to its development finance rates, with rates...

NatWest unveils family-backed mortgage to lift FTBs onto the property ladder

NatWest has launched a new Family-Backed Mortgage aimed at helping first-time buyers increase their...

Other news

Black & White Bridging creates new asset management team

Specialist short-term lender Black & White Bridging has strengthened its operations with two key...

Investec cuts fixed mortgage rates by up to 30bps for high-net-worth clients

Investec Bank has announced further reductions across its mortgage range, cutting fixed rates by...

Remortgage options grow for pound-for-pound landlord borrowers

With many thousands of landlords set to come off two and five-year fixed rates...
Advertisement