LendInvest updates bridging finance range reintroducing 75% LTV
LendInvest, the UK’s leading platform for property finance, has refreshed its unregulated bridging product suite relaunching higher LTVs up to 75% as the UK’s national lockdown eases.
Residential bridging rates start at 0.55% available up to 50% LTV, at 0.69% up to 65% LTV, and 0.80% up to 75% LTV with loan sizes available from £75,000 up to £15,000,000.
The lender has reintroduced its auction finance and bridge-to-let highest LTV products at 75% LTV at rates of 0.80%.
LendInvest has updated its development exit product with its highest LTV bracket increased to 70% LTV. Rates start from 0.55% with loan sizes available from £250,000 to £10,000,000.
The lender has also refreshed its commercial bridging suite. Semi-commercial bridging loans will now be available up to 70% LTV with rates starting from 0.79%, Commercial loans up to 65% LTV with rates starting from 0.90% LTV, and Land up to 65% LTV with rates starting from 0.90% LTV. Loan sizes for these products are available from £250,000 up to £15,000,000.
Justin Trowse, director for bridging finance at LendInvest, said: “As we continue to see more encouraging signs across the housing market with projects getting back underway, we feel confident in adjusting our product suite to meet the needs of our borrowers.
“Remaining open for business over the past couple of months has not only ensured we were available to our customers, but has also allowed us to quickly tailor our offering as one of the first lenders to reinstate our higher LTV products. We are hopeful that the coming weeks will see more positive news for both the country and the industry, and we are primed and ready to deliver finance to those who need it.”