LendInvest updates BTL products

LendInvest has refreshed its BTL products, including the reintroduction of its five-year fixed-rate 75% LTV offering, as valuations resume.

The five-year product is available at a rate of 3.99%, 3.49% at 70% LTV, and 3.29% at 65% LTV.

Two-year fixed rates start at 2.99% up to 65% LTV and 3.29% up to 70% LTV, with a maximum loan size of £750,000.
Affordability is calculated at an ICR of 5% against the total gross loan amount, and the lender has adjusted its definition of small HMO’s to six bedrooms.

Additionally, LendInvest has a five-year fixed rate at 3.69%, available up to 70% LTV with an ICR at 4%.

The full updated product range can be viewed on LendInvest’s website.
“It is encouraging to see the housing industry start shifting safely back into gear this week, and the team are primed and ready to hit the ground running with this new refresh to our product range,” said Andy Virgo, director for BTL at LendInvest (pictured above). 

“As a lender that has remained open for business over the last couple of months, I am confident that we are in a uniquely advantageous position to best serve our customers as valuers return to work, all while staying alert to the evolving crisis-environment.”

LendInvest BTL customers will receive a £500 cashback contribution towards legal fees when they take out a five-year fixed BTL mortgage for standard property types on products up to 75% LTV.
On standard residential loans, borrowers are offered a valuation fee of £150.

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