Landlords

LendInvest announce enhancements to BTL range

Property Reporter
|
24th June 2020
To Let 690

LendInvest has has announced that it has strengthened its buy-to-let range with a series of offers aimed at better supporting landlords in the 'new-normal'.

The lender revealed that it is now offering its two-year fixed 75% LTV product at a rate of 3.49%, with a maximum loan size of £750,000 as well as a five-year fixed rate 70% LTV product which will be available at 3.69%. Its 75% LTV product has been reduced to 3.59% or 3.69% with a 4% ICR.

The firm also reintroduced a 75% LTV products for standard HMO cases up to six bedrooms, with rates available across two and five-year fixed products.

In addition to this, the minimum property value for HMO cases has been reduced, now starting at £250,000 for Greater London and £100,000 for the rest of the country. Large HMOs and MUFB cases with properties up to 10 bedrooms are now also being accepted.

Andy Virgo, director of buy-to-let at LendInvest, said: “At this time two of the most important things a lender can do is; observe the market and listen to your customers. Doing this ensures you are not only delivering the products they need but products that are right for them - this is something we continuously strive for at LendInvest.

“As we all settle into the new normal, portfolio landlords are increasingly seeking leverage to aid the growth of their BTL portfolios. These product changes are key to supporting them, and allowing them access to the funding they require.”

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