LendInvest reduces rates across BTL product range
LendInvest, the UK’s marketplace for property finance, has implemented a range of key rate changes across its Buy-to-Let mortgage products, and will now offer a cash back contribution towards legal fees up to £750.
LendInvest’s two-year fixed rates now start from 2.89%, and five-year fixed rates from 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 product fee of just 1%, and, for standard properties, a non-refundable valuation/application fee of £150.
The maximum loan size for large HMO cases has increased to £1million, with two-year and five-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.
Ian Boden, pictured, 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.”