LendInvest, a top Fintech providing property finance in the UK, has updated its bridge financing product suite with higher LTVs [loan to value] of up to 75% as the UK’s national lockdown eases. In a release, LendInvest said residential bridging rates are starting at 0.55% available up to 50% LTV, at 0.69% up to 65% LTV, and 0.80% up to 75% LTV with loan sizes available from £75,000 up to £15 million.
LendInvest has also reintroduced its Auction Finance and Bridge-to-Let highest LTV products at 75% LTV at rates of 0.80%. LendInvest has updated its Development Exit product with its highest LTV bracket increased to 70% LTV. Rates start from 0.55% with loan sizes available from £250,000 to £10,000,000.
Semi-Commercial bridging loans will now be available up to 70% LTV with rates starting from 0.79%. Commercial loans up to 65% LTV with rates starting from 0.90% LTV, and Land up to 65% LTV with rates starting from 0.90% LTV. Loan sizes for these products are available from £250,000 up to £15,000,000.
Justin Trowse, Director for Bridging Finance at LendInvest, said that as they continue to see more encouraging signs across the UK housing market with projects getting back underway, they feel confident in adjusting their product suite to meet the needs of our borrowers.
“Remaining open for business over the past couple of months has not only ensured we were available to our customers, but has also allowed us to quickly tailor our offering as one of the first lenders to reinstate our higher LTV products. We are hopeful that the coming weeks will see more positive news for both the country and the industry, and we are primed and ready to deliver finance to those who need it.”
LendInvest has lent over £3 billion of short term, development, and buy to let mortgages. Its investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. LendInvest has been profitable since 2015.