Online lending platform LendInvest says it will now offer 90% LTV two-year fixed mortgages for first-time home buyers.
LendInvest’s Residential Mortgages are said to have stretched LTIs up to 6.49x, to support homebuyers to borrow enough for their first home.
Paula Mercer, Head of Sales at LendInvest Mortgages, said they are tailoring their product to meet the needs of homebuyers during a challenging economic environment. LendInvest wants to enhance affordability for those wanting o buy a ahome.
London and the UK, in general, have had a tight market for homes. Increasing prices and high-interest rates have made it difficult for many to buy a home.
Mercer added, “Today’s product launch benefits all of our homeowner customers, but especially first-time buyers with smaller deposits. We continue to evaluate and develop our comprehensive range with the goal of providing meaningful solutions for all homeowners.”
An article in Euronews from last November described the housing market in the UK as “reserved for the elite.”