On Tuesday, LendInvest announced the launch of its new buy-to-let (BTL) online calculator for intermediaries. According to LendInvest, the calculator is considered the latest in a series of ongoing improvements to the lender’s online calculators, aimed at making the loan application process as easy and straightforward as possible. It’s also a tool that’s been specially designed to work well in tandem with LendInvest’s fully online BTL application system.
“LendInvest’s buy-to-let calculator is designed to give the most accurate borrowing range and cover criteria for single properties, HMO’s (houses of multiple occupation) and MUFB’s (multi-unit freehold blocks). Intermediaries can use the online tool to swiftly calculate LTV, annual rental yield and the maximum gross loan amount in one single place. The calculator caters for both individual and limited company applications.”
LendInvest also reported that it launched its BTL product in late November 2017 and has already established a broker panel of more than 200 intermediaries. LendInvest BTL loans are available for amounts between £50,000 and £5 million and on terms of up to 30 years. Loans are available for professional individuals and limited companies, a maximum loan-to-value of 80% applies. Ian Boden, Sales Director at LendInvest, added:
“At LendInvest, our priority is making sure the right technology is in place to make our brokers’ lives easier. This new calculator is focused on delivering a simple, no-fuss experience for our intermediaries so they can make quick, and more importantly, accurate decisions for their clients.”