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LendInvest cuts rates on vanilla bridging



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Online mortgage platform LendInvest has announced that it has reduced interest rates on its tier 1 residential bridging loan range.

The cuts apply specifically to simple, vanilla residential bridging loans (tier 1), which have been reduced by 11 basis points per month across the full range.

Tier 2 cases, including houses in multiple occupation, heavy refurbishment, conversion or extension work, do not qualify.

Matthew Tooth, head of distribution at LendInvest, said: “This price cut ensures that LendInvest can offer brokers and their clients not only the speedy, efficient service for which we have become known, but also some of the most competitive rates in the market.

“We have worked very hard at building the most diverse capital base in the specialist lending market.

“Because of those varied funding sources and our proven track record, we are now able to pass on the cost savings to end borrowers from a position of strength.”

This announcement comes after LendInvest recently announced a 133% increase in revenue as well as its first case with distributor Crystal Specialist Finance.

See the new rates below:

 

LTV

New monthly interest rate

Up to 50%

0.64%

Up to 60%

0.69%

Up to 65%

0.74%

Up to 70%

0.84%

Up to 75%

0.94%

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