LendInvest, a property finance marketplace, has introduced a range of updates to its Buy-to-Let product including several special offers available for a limited time. In a release, LendInvest said it is now offering its two year fixed 75% LTV product at a rate of 3.49%, with a maximum loan size of £750,000. The offer extends to the lender’s five year fixed mortgages, with its 70% LTV product available at a rate of 3.69% and 75% LTV product available at 3.59%, or 3.69% with a 4% ICR.
Additionally, the lender has reintroduced its 75% LTV products for standard HMO cases up to six bedrooms, with rates available across two and five year fixed products.
The minimum property value for HMO cases has been reduced to £250,000 for Greater London and £100,000 for the rest of the UK. LendInvest said that large HMOs and MUFB cases with properties up to 10 bedrooms are now also being accepted.
Andy Virgo, Director for Buy-to-Let at LendInvest, stated:
“At this time two of the most important things a lender can do is; observe the market and listen to your customers. Doing this ensures you are not only delivering the products they need, but products that are right for them – this is something we continuously strive for at LendInvest. As we all settle into the new normal, portfolio landlords are increasingly seeking leverage to aid the growth of their BTL portfolios. These product changes are key to supporting them, and allowing them access to the funding they require.”
It was recently reported that home sales volumes were almost 50 percent down year over year due to the Coronavirus but the market picked up in May.