LendInvest is offering its 2-year fixed 75% loan-to-value (LTV) product at a rate of 3.49%, with a maximum loan size of £750,000.
The offer extends to the lender’s 5-year fixed mortgages, with its 70% LTV product available at a rate of 3.69% and 75% LTV product available at 3.59%, or 3.69% with a 4% ICR.
The lender has also reintroduced its 75% LTV products for standard HMO cases up to six bedrooms, with rates available across two and 5-year fixed products.
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 (pictured), director for 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.”
Originally reported via: https://www.mortgageintroducer.com/lendinvest-launches-buy-to-let-summer-specials/
Matt Lenzie from Commercial Mortgages Broker said: it’s great to see LendInvest offering incentives for transactions, hopefully this continues to accelerate activity in the buy to let marketplace.”