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LendInvest has made a host of changes to its buy-to-let (BTL) suite of products, including rate reductions, the introduction of higher loan-to-value (LTV) products, and an increase in maximum loan sizes.
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LendInvest has reduced rates across its standard BTL range, with its 80% LTV product now available at 3.89%.
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The lender has also reduced rates and introduced a new 80% LTV product for small houses in multiple occupation (HMOs), while increasing the maximum loan size for small HMOs to £1m.
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LendInvest has also introduced a new 75% LTV product for large HMOs with a maximum loan size of £1.5m, and has increased its definition of a large HMO from 10 to 15 bedrooms.
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For multi-unit freehold blocks (MUFBs), a new maximum loan size of £2m has been introduced at 70% LTV, and £1.5m at 75% LTV, with rate reductions across the range.
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The lender will now be offering cashback towards legal fees of 0.25% of the loan amount up to £1,000 on qualifying five year fixed rate products.
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Andy Virgo, sales director at LendInvest, said: “It’s an exciting time at LendInvest right now as we kick the year off with new funding for our BTL product and an extensive refresh for our BTL product suite.
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“As the market continues to gather momentum, we are continuously looking to make property finance more simple, and deliver the products that portfolio landlords need in a constantly evolving economic landscape.”
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In January 2021, LendInvest announced a new £500m funding partnership with J.P. Morgan to finance its BTL product.
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By Jessica Bird
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Source: https://uk-mortgagebroker.co.uk/news/
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