LendInvest shakes up bridging products

LendInvest shakes up bridging products




Lending platform LendInvest has announced major changes to its bridging loan product range.

The firm has separated bridging loans into three categories depending on the security and borrower type, allowing offerings to be personalised to different clients’ needs.

Christian Faes, co-founder and CEO of LendInvest, said: “This revised product mix is a statement of intent.

“We are now not only the fastest lender in the UK mortgage market, but we are also now among the most competitively priced.”

LendInvest’s three new categories are named ‘Residential Bridging Tier 1’, ‘Residential Bridging Tier 2’ and ‘Commercial Bridging’.

Residential Bridging Tier 1 covers loans of up to £3m, with rates starting at 0.65% a month for loan-to-values (LTV) of less than 40%.

For loans of up to £7.5m, Residential Tier 2 offers rates starting at 0.70% for LTVs of less than 40%.

Meanwhile, the Commercial Bridging tier offers rates beginning at 0.8% for semi-commercial and 1% for both commercial and land transactions of up to £7.5m.

However, Christian insisted that the new products were not LendInvest’s only competitive advantage.

He added: “We challenge any lender to perform as quickly as we do, at our pricing.”

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