LendInvest
, the London based buy to let finance and bridging finance platform, has updated its buy-to-let product range this week.
The lender has made a series of changes including an increase of its maximum loan size for MUFB properties up to £1 million for 70% LTV and £1.5 million up to 65% LTV. It will also now accept up to £3 million up to 60% LTV.
Among the changes was a reduction of LendInvest’s ICR to 125% at 4% for basic rate taxpayers on their five year pay rate product enabling landlords greater leverage for lower yielding properties.
LendInvest has also reduced its ICR to 125% at 4% for basic rate taxpayers on their five year pay rate product allowing landlords greater leverage for lower yielding properties.
The lender currently offers a two-year fixed rate at 3.49% up to 75% LTV with a maximum loan size of £750,000. Its five-year fixed rates include a 70% LTV product at 3.69% and a 75% LTV product from 3.59% or 3.69% with a 4% ICR.
Andy Virgo, director of buy-to-let at LendInvest, said: “We are consistently listening to our broker partners and monitoring the market post lockdown to ensure we are responding effectively to what landlords need to keep their business moving forward in a somewhat unique environment. The time is right to make these changes, and is the start of further enhancements to our proposition through the rest of the year.”
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