LendInvest, an online marketplace for mortgages, says it has dropped its product fees and lowered interest rates for both of its five year fixed rate BTL remortgage products for a limited time.
In a move to boost demand, LendInvest states that its five year fixed rate BTL remortgage products will be available on standard property cases up to 75% LTV and up to £250k in loan size.
The products are currently offered at an interest rate of 3.60%, with the ICR calculated at the pay rate, or at an interest rate of 3.49% with the ICR calculated at 5%. Both products will have zero product fee.
LendInvest has also reduced rates for 80% LTV cases with a 2 year fixed now at 3.59% and a 5 year fixed at 3.69%, both with a 1% product fee.
Ian Boden, Sales Director at LendInvest, said that streamlining origination and loan management systems means they can offer borrowers better rates:
“These products will directly benefit our borrowers wishing to grow their business by enabling them to leverage and release capital for further property investment,” said Boden.
Since launching in 2008, LendInvest has lent over £2 billion funded by individuals, corporates and financial institutions.