LendInvest slashes buy-to-let rates
LendInvest has made a number of rate changes across its buy-to-let mortgage range.
Rates on LendInvest’s 2-year fixed deals now start from 2.89% whilst 5-year fixed rates begin at 3.19%. Rates have also been reduced for its 75% LTV products as the lender launches new products for 65% and 70% LTV.
All of these products maintain a 1% product fee and a non-refundable valuation/application fee of £150 for standard properties.
Ian Boden, sales director at LendInvest, said: “We continuously listen to our broker partners about what product features they value most and are delighted to be able to bring these important product changes to market as we lead into the Autumn.
“Our recent BTL securitisation and the attraction of additional institutional funding partners has given us a really strong and well-diversified capital base.
“Coupling this with the continued growth of our operations team and the ever-stronger tech platform from which we do our BTL business, we are well placed to further increase our BTL loan volumes.”
The maximum loan size for large HMO cases has increased to £1m, with 2-year and 5-year fixed rates starting at 3.59% and 3.79% respectively.
Alongside these changes, LendInvest BTL customers will now receive a £750 cashback contribution towards legal fees when they take out a 5-year fixed BTL mortgage for standard property types on products up to 75% LTV.