LendInvest Mortgages, the UK’s platform for mortgages, has launched its “first ever” Black Friday sale on its Bridging range, “offering brokers and their customers free valuations.”
This offer is applicable to “all of its unregulated bridging products on standard properties.”
Fresh from cutting its Buy-to-Let and Residential rates, this is just “the latest incentive to support brokers and their customers – whether they be homebuyers, landlords or property investors – to save money and get moving in the property market.”
Victoria Barnard, Business Development Manager at LendInvest Mortgages, said:
“Since cutting our bridging rates a couple of weeks ago, we’ve seen lots of interest from brokers with clients looking to find the right deal in today’s market. We wanted to take this a step further though, and continue to support their customers to save money and meet their ambitions for this winter. After a challenging year, with inflation beginning to fall and Bank of England Base Rates staying stable, we want to pass on the benefits of that to our customers and help stimulate the market.”
As covered, LendInvest claims it is the UK’s leading platform for property finance.
LendInvest explains that it “offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers.”
Its proprietary technology and user experience are “designed to make it simpler for both borrowers and investors to access property finance.”
LendInvest has lent “over £3bn of short term, development and buy to let mortgages.”
Its funders and 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.”
As reported, LendInvest Mortgages, the UK’s platform for mortgages, has delivered a mortgage offer in just four days “for a Key Worker looking to purchase their first home.”
The borrower, a nurse, was “seeking finance for a residential property in Tilbury, for her first home.”
As noted in the update from LendInvest (LSE:LINV), the loan size w”as £141,000 based on an LTV of 85.60% on a LendInvest Key Worker Homeowner mortgage.”
A dedicated underwriter worked “alongside the broker, and the case was offered quickly following the valuation fee being paid, using the customer’s mixed income from her main job as a nurse, as well as additional income from the nurse bank.”
The team were able to “take 100% of her combined income for affordability and still process the mortgage as a Tier 0, despite a complex credit history.”
Because of LendInvest’s technology “including its purpose-built portal, which automates previous manual checks, LendInvest Mortgages’ underwriters were able to work quickly and through the deal and deliver an offer in under four days after valuation was completed.”
