LendInvest Mortgages cuts residential rates and expands eligibility criteria

By Bridging Loan Directory 28th August 2024

LendInvest Mortgages, the UK’s leading platform for mortgages, announces updates to its Residential Mortgage products.

In its continued commitment to support homebuyers and offer competitive mortgage solutions, LendInvest is reducing rates and expanding eligibility criteria.

Residential mortgage rates have been reduced by 15 basis points on 2-year fixed-term products and by 10 basis points on 5-year fixed-term products, making borrowing more affordable for homebuyers.

In addition to the rate reductions, the lender has expanded its eligibility criteria for qualified professionals and key workers.

The updated list now includes a broader range of occupations, such as psychologists, social workers, prison officers, prisoner custody officers, and teaching staff, including teaching assistants and university lecturers.

LendInvest has also increased the flexibility of its mortgage products by now ignoring all satisfied communications and utilities under £250 per applicant.

This change is designed to make the products more accessible to a wider range of customers.

Paula Mercer, Head of Sales at LendInvest, commented:

“We are constantly looking for ways to make our mortgage products more accessible and affordable for our customers.

By lowering our rates and expanding our eligibility criteria, we are ensuring that more people can benefit from our tailored mortgage solutions.

Our commitment to providing excellent service is reflected in these enhancements, and we are excited to help even more customers on their journey to refinancing or owning their home.”

In addition to these updates, LendInvest continues to offer direct access to underwriters, live case updates through their Mortgages portal, and an industry-leading Loan-to-Income (LTI) ratio of 6.49x, designed to support borrowers looking to purchase their next home.