LendInvest increases maximum loan size to £750k for its five year fixed buy-to-let mortgage product
LendInvest, the UK’s marketplace for property finance, has increased its maximum loan size to £750k on its five year fixed rate buy-to-let mortgage products and will now contribute towards the legal fees on these products.
LendInvest has increased its maximum loan size to £750k for its five year fixed rate product with the ICR being calculated at the product pay rate of 3.6%.
On standard residential loans, borrowers are now offered a reduced valuation fee of £150, along with free title insurance. Free title insurance is extended to HMO refinance cases, which are accepted on properties with up to 15 rooms.
In line with these changes, LendInvest will pay a contribution toward the borrowers legal fees for its five year fixed rate products at 75% LTV up to a maximum of £850 for a limited time only. This figure increases to £1000 for repeat borrowers.
Ian Boden, sales director at LendInvest, said: “We listen closely to our customers and the market when it comes to delivering the best offering for our borrowers. Access to capital is crucial when a landlord is growing their property portfolio – these product changes provide a significant reduction in the upfront cost our customers face when acquiring finance.”