LendInvest revamps bridging loan range
LendInvest, the UK’s leading asset manager for property finance, has announced a range of key changes to its Bridging suite, as time taken to process a case from application to completion through its new bridging portal drops to as little as 14 days.
LendInvest is now seeing over 50% of new enquiries and applications being submitted directly through its bridging portal as it further streamlines the application and case management process.
At the same time, LendInvest has repriced its bridging product range with bridging loan rates starting from 0.49%, and LTVs up to 75%.
Rates have been adjusted over the full product range, from residential to commercial, semi-commercial, land and refurbishment.
The lender has also increased its maximum LTV on refurbishment finance to 85%, at a rate of 0.79%.
For standard property applications, borrowers are eligible for free legal fees and a reduced £150 valuation fee when refinancing to a LendInvest BTL loan.
Justin Trowse, Director, Bridging at LendInvest, said:
“The opportunity to bring this newly priced range of products to our broker partners at a busy time for the industry is brilliant, and is a great example of the efficiencies and product tailoring we are able to achieve through market-leading technological developments like our bridging portal.”