Online mortgage lender LendInvest has increased its maximum loan amount to £750,000. This cap applies to its five year fixed buy-to-let loans.
On standard residential loans, borrowers are now offered a reduced valuation fee of £150, along with free title insurance. Free title insurance is extended to HMO refinance cases, which are accepted on properties with up to 15 rooms.
Additionally, LendInvest will pay a contribution toward the borrowers’ legal fees for its five year fixed rate products at 75% LTV up to a maximum of £850 for a limited time only. For repeat borrowers, this figure increases to £1000.
Ian Boden, Sales Director at LendInvest, commented on the change:
“We listen closely to our customers and the market when it comes to delivering the best offering for our borrowers. Access to capital is crucial when a landlord is growing their property portfolio – these product changes provide a significant reduction in the upfront cost our customers face when acquiring finance.”
LendInvest is a profitable Fintech that may initiate an initial public offering at some point in the not so distant future.