LendInvest makes sweeping changes to its BTL suite
LendInvest, the UK’s leading platform for property finance, has made a host of important changes to its buy-to-let suite, including rate reductions, the introduction of higher LTV products; and an increase in maximum loan sizes.
LendInvest has reduced rates across its standard BTL range, with its 80% LTV product now available at 3.89%.
The lender has also reduced rates and introduced a new 80% LTV product for small HMOs, while increasing the maximum loan size for small HMOs to £1m. LendInvest 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.
For MUFB’s, 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.
LendInvest will now be offering cashback towards legal fees of 0.25% of the loan amount up to £1000 on qualifying five year fixed rate products.
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. 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.”
In January 2021, LendInvest announced a new £500m funding partnership with J.P. Morgan to finance its BTL product.