LendInvest raises maximum loan size for MUFB properties to £3m
LendInvest, the UK’s leading platform for property finance, has made a series of changes to its buy-to-let product suite.
LendInvest has increased its maximum loan size for MUFB properties up to £1m for 70% LTV, £1.5m up to 65% LTV and will now accept up to £3m up to 60% LTV.
The lender has also reduced its ICR to 125% at 4% for basic rate taxpayers on their five year pay rate product enabling landlords greater leverage for lower yielding properties.
LendInvest recently announced a series of summer special offers, which will run to the 31 of August 2020.
The current offering lists its two year fixed 75% LTV product at a rate of 3.49%, with a maximum loan size of £750,000. The offer extends to the lender’s five year fixed mortgages, with its 70% LTV product available at a rate of 3.69% and 75% LTV product available at 3.59%, or 3.69% with a 4% ICR.
Andy Virgo, director for buy-to-let at LendInvest, said: “We are consistently listening to our broker partners and monitoring the market post lockdown to ensure we are responding effectively to what landlords need to keep their business moving forward in a somewhat unique environment. The time is right to make these changes, and is the start of further enhancements to our proposition through the rest of the year.”