LendInvest reduces rates and increases max loan sizes on BTL suite
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.
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 houses in multiple occupation (HMOs), while increasing the maximum loan size for small HMOs to £1m.
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.
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.
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.
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.