LendInvest Mortgages has rolled out significant enhancements to its Buy-to-Let (BTL) mortgage offerings. The updates are a mix of lowered interest rates and increased loan limits, aimed at providing landlords and property investors with more flexible and affordable financing options.
In a move that benefits landlords, LendInvest has slashed its BTL mortgage rates by up to 0.15% (15 basis points). The new rates start at a competitive 3.89%. This rate reduction makes borrowing more affordable for landlords, potentially increasing their investment returns.
Higher Loan-To-Value Ratios
Another major update is the increase in the Loan-To-Value (LTV) ratio. Landlords can now access financing up to 80% LTV on five-year BTL mortgage products. This is applicable for both standard properties and small Houses in Multiple Occupation (HMOs), making it easier for investors to secure funding for a wider range of property types.
For those looking to finance larger property deals, LendInvest has also raised the maximum loan size to £3 million. This expansion is designed to accommodate the needs of investors engaged in more substantial property transactions.
Reintroduction of Holiday Let Products
Recognising the growing interest in holiday rental properties, LendInvest has reintroduced its holiday let mortgage products. These offerings include new 2-year and 5-year fixed rates, providing options that cater to both short-term and long-term investment plans.
Enhanced Support for New Builds
In a bid to support more developments, the maximum LTV for new build flats has been increased to match that of new build homes. This adjustment provides developers and investors with an opportunity to finance new construction projects under more favorable terms.
Streamlining the Product Transfer Process
LendInvest has launched a new Product Transfer process aimed at BTL customers nearing the end of their fixed-term mortgages. The streamlined process features a shorter application form, dedicated underwriter support, and does not require legal interventions for pound-for-pound transfers, simplifying the refinancing process.
Sophie Mitchell-Charman, Commercial Director at LendInvest, expressed enthusiasm about the updates, stating, “We are delighted to introduce these significant updates to our Buy-to-Let product suite. These changes are designed to empower property investors with more options and better financial flexibility.”
She further emphasised the company’s goal to support diverse investment strategies and help landlords achieve their property investment aspirations, highlighting LendInvest’s commitment to being a top choice for innovative and competitive mortgage solutions in a dynamic market.