LendInvest Mortgages (LSE: LINV), a UK fintech platform dedicated to alternative property lending, has announced a rate reduction on all of its buy-to-let (BTL) products by “10 basis points (bps), with the lowest rates starting at 3.44% on a 2-year fixed term.”
The rate reduction will cover the company’s “entire line of BTL products, including Expats, Bridge-to-Lets and Product Transfers.”
The lender will also be contributing “up to £500 towards legal costs for all Bridge-to-Let loans.”
This most recent rate reduction comes “as the lender was recently recognised as a 5-star lender and top digital-first lender in the recent edition of the Smart Money People Mortgage Lender Benchmark Survey.”
Hugo Davies, Chief Capital Officer and Managing Director for Mortgages at LendInvest said:
“As an alternative lender, we’re committed to helping our customers and their clients deliver on their project, and affordability is key to that. As such, we’re pleased to reduce our BTL rates by 10bps. We also know that costs can add up quickly, especially for SME and first-time landlords, and our contribution towards legal costs on Bridge-to-Let products will save clients some money as they embark on their newest project. “
They added:
“At LendInvest, our goal has always been to make the mortgage process as simple as possible, and that’s why our Mortgages Portal is optimised for brokers. One portal where brokers can see real-time updates on all of their cases, apply for and complete Product Transfers in hours and get in touch with our dedicated team of case managers and underwriters when extra support is needed.”
As covered, LendInvest is the UK’s platform for property finance.
LendInvest 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.”
