Andy Virgo, LendInvest

LendInvest launches exclusive one-year fixed-rate BTL product

LendInvest has introduced an exclusive 'BTL Plus' product via a select panel of intermediary partners and packagers, designed for landlords seeking to move to a lower rate.

The one-year fixed-rate of 3.45% is available up to 65% LTV, and 3.55% up to 70% LTV, with a product fee of 1.5% — which can be added to the loan.

Affordability is calculated at an ICR of 5% against the total gross loan amount. 

The mortgage is available on properties up to a maximum value of £500,000 for remortgages only, and suitable for standard property types. 

LendInvest will be utilising desktop valuations via Connells to ascertain the security value, in absence of a valuer being able to make a physical visit to the property.

“Right now, the team is focused on building products that our customers truly need during this unusual time,” said Andy Virgo, director for BTL at LendInvest (pictured above).

“To do so, we must play to our strengths and get truly innovative when it comes to product development; which is why we are particularly excited to announce the launch of our BTL Plus mortgage today (12th May). 

“With a great initial reception from our limited distribution panel, I look forward to ensuring this new product reaches landlords that need it across the country.”

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