LendInvest expands criteria to include student lets and first-time landlords

LendInvest has announced a series of enhancements to its buy-to-let range, including raising its maximum LTV and loan limits and broadening its lending criteria to include first-time landlords and student lets.

Related topics:  Mortgages
Rozi Jones
28th September 2020
Andy Virgo LendInvest
"Landlords are looking to move fast, and stay flexible when considering new projects at this time - in order to do that, they need the right products available to them."

LendInvest is now offering 80% LTV products on standard properties, with a maximum loan size of £500,000.

The lender has also increased its maximum loan size for standard properties to £1.5million, with maximum loan size for MUFB cases increasing to £3 million with LTVs up to 75%.

LendInvest will be launching a funding offering for first-time landlords, and student let HMOs up to six bedrooms.

Buy-to-let borrowers will also receive a £500 cashback contribution towards legal fees when they take out a five-year fixed rate for standard property types on products up to 75% LTV.

Customers are also eligible for a £200 cashback on all applications where Open Banking is used.

Andy Virgo, director of buy-to-let at LendInvest, said: “Landlords are looking to move fast, and stay flexible when considering new projects at this time - in order to do that, they need the right products available to them. With these new updates, I am confident we are not only able to deliver competitive funding options, but also the right team and expertise behind them to act as a vital partner for our customers as they seek to expand their portfolios.

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