LendInvest slashes rates on vanilla residential bridging range

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LENDINVEST - NEW LOGO - PRESSOnline mortgage lender LendInvest has cut the interest rates on its “Tier 1” residential bridging loan range for simple, vanilla cases.

Prices have been cut by as much as 11 basis points per month across the full range of loan-to-values (LTV). The details of the new pricing are below:

 

LTV

New monthly interest rate

Up to 50%

0.64%

Up to 60%

0.69%

Up to 65%

0.74%

Up to 70%

0.84%

Up to 75%

0.94%

 

LendInvest introduced a tiered structure for its bridging loan range in June 2016.

Simple, vanilla residential bridging cases qualify for the lowest rates on offer with Tier 1. Tier 2 is designed for residential cases which fall outside of this criteria – for example HMOs or heavy refurbishment cases involving structural, conversion or extension work.

Matthew Tooth, Head of Distribution at LendInvest, 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.”

Last week LendInvest reported its third consecutive year of profits, with gross revenues rising 133% to £32 million.