LendInvest, a UK-based property finance platform, will offer a new holiday product for lets and short term properties. The new credit offer was announced alongside a series of reductions across its standard property range.
The Proptech has introduced a product catalogue with rates starting at 3.59% for 65% LTVs for two-year fixed products.
Additionally, reduced rates on its standard Buy-to-Let products are available, with its five-year 75% LTV product now available at 3.14% and the two-year fixed rate products starting from 2.75%.
Accompanying these changes are reductions across its Small HMO range, including dropping its two year 70% LTV product to 3.06%, and five year 70% LTV product to 3.64%.
The lender has also launched a new seven-year fixed rate product, starting at 2.99% for 65% LTV.
Andy Virgo, Sales Director at LendInvest, commented:
“We are hugely excited to be releasing this new catalogue today, which includes a whole range of updates we have been eager to implement for landlords. Supporting landlords who are experienced in, or have diversified into the short-term let market is a natural progression for us, as we continue to broaden our funding sources we are keen to keep tailoring our offering, and delivering new products that fill the gaps we see in the market.”
LendInvest has lent over £3 billion of short-term, development and buy to let mortgages supported by institutional investors. In 2019, it became the first Fintech to securitize a portfolio of BTL mortgages.