Matthew Tooth

LendInvest launches three-year bridge

LendInvest has launched a three-year bridging product as an alternative to a conventional buy-to-let loan.

The product has been designed for experienced borrowers looking to raise capital or acquire a lower-yielding property.

Key features of the three-year bridging product include:

  • Interest charged at 6.99% per year, pay rate 4.99% with 2% interest deferred
  • Available on terms between £100,000 and £2m
  • Terms from 1-36 months
  • Maximum LTV of 70% on day one, rising to 75% as interest is deferred and rolled up
  • 11% interest cover minimum

“Following an influx of enquiries from borrowers seeking to purchase or raise additional capital against a low-yielding property, we developed this product with this niche audience in mind,” said Matthew Tooth, chief commercial officer at LendInvest (pictured above).

“The three-year bridge acts as an alternative to a mainstream buy-to-let product, tailoring a traditional bridging loan for a longer term.”

This launch marks the latest in a wave of new products from LendInvest.

The three-year bridge follows the successful rollout of refurbishment finance and pre-construction finance in February and April respectively.

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