LendInvest cuts vanilla bridging range
LendInvest has cut the interest rates across its vanilla bridging range – known as ‘Tier 1’.
Monthly rates now stand at 0.64% to 50% loan-to-value, 0.69% to 60% LTV, 0.74% to 65% LTV, 0.84% to 70% LTV and 0.94% to 75% LTV.
Matthew Tooth, head of distribution, said: “This price cut ensures that LendInvest can offer brokers and their clients not only the speedy, efficient service for which we have become known, but also some of the most competitive rates in the market.
“We have worked very hard at building the most diverse capital base in the specialist lending market. Because of those varied funding sources and our proven track record we are now able to pass on the cost savings to end borrowers from a position of strength.”
LendInvest’s ‘Tier 2’ range is designed for residential cases falling outside of core criteria, for example example HMOs or heavy refurbishment cases involving structural, conversion or extension work.
Last week the lender posted a yearly profit of £3.4m after increasing lending by 84% to £320m.